Mere Furnishing of Income Tax Returns and Bank Statements without any Explanation for Deposits not Meet Requirements of S. 68: ITAT [Read Order]

By Fathima Karama A.M - On June 4, 2023 9:30 am - 2 mins read
Furnishing of Income Tax Returns - Income Tax Returns - Income Tax - Bank Statements - Deposits - ITAT - Taxscan

The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that mere furnishing of income Tax returns and bank statements without giving any explanation for deposits would not meet the requirement under Section 68 of the Income Tax Act. The assessee, Gopal Agarwal Secunderabad was an individual who derives income from salary, house property…

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