ITAT Quashes Tax Notice Over Rs 5.2 Crore Cash Deposit and Rs 7.65 Lakh...
The Assessing Officer (AO) issued multiple notices to an individual regarding a Rs 5.2 crore cash deposit and his Rs 7.65 lakh Income Tax Return (ITR). Unsatisfied with the responses, the AO treated the deposit as unexplained money under Section 69 and passed an assessment order. However, the Income Tax Appellate Tribunal (ITAT) later quashed the tax notice.
TOI Business·2h ago




