Man Faces Rs 17.18 Lakh Tax Penalty Over Rs 55.62 Lakh Unexplained Deposits; ITAT...
A man who did not file his income tax return for the 2016-17 assessment year was reassessed by the tax department without his participation. On February 15, 2024, his total income was assessed at Rs 55.62 lakh, treated as unexplained cash deposits in his bank account. The Income Tax Appellate Tribunal (ITAT) later granted him relief from the Rs 17.18 lakh tax penalty.
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