Insurance Agent Wins ITAT Case Over Rs 35L Unexplained Cash
Mr. Sharma, an insurance agent from Neem Ka Thana, Rajasthan, faced scrutiny from the Income Tax Department after depositing Rs 35 lakh cash, deemed unexplained. He explained the amount as premiums collected from policyholders. Discrepancies arose as some policies were linked to other agents, but Sharma clarified he shared commissions with them due to insurance regulations. He provided affidavits and bank records to support his claim, leading to a favorable ITAT ruling.
Economic Times··Neem Ka Thana


