ITAT confirms Addition of Unexplained Income for SBN Deposits during Demonetization Period in Absence of Legitimate Source [Read Order]

By Fidha Lulu K G - On May 26, 2023 8:00 am - 2 mins read
ITAT - Unexplained Income - SBN Deposits during Demonetization - Absence of Legitimate Source - taxscan

The Cuttack Bench of the Income Tax Appellate Tribunal (ITAT) recently confirmed the addition of unexplained income for SBN deposits during the demonetization period in the absence of legitimate source documentation. The assessee Pankaj Gupta was an individual carrying on business of FMCG goods on wholesale and retail trading in the name and style of…

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