Amount transferred from Current Account to Deposit Account to maintaining shortfall of Accounts cannot be consider Income of Assessee: ITAT deletes Addition [Read Order]
The amount transferred from the current account to maintain the shortfall of the account could not be considered the income of the assessee
By Aparna. M - On June 4, 2024 5:46 pm - 2 mins read
The Chennai bench of Income Tax Appellate Tribunal ( ITAT ) after deleting the addition made by the assessing officer held that the amount transferred from the current account to maintain the shortfall of the account could not be considered the income of the assessee . The Assessee, Aaditra Foundations is a resident firm that…
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