Onus is on Income Tax Dept to Prove that Investments Made through Banking Channels is Doubtful: Allahabad HC [Read Order]

Onus is on the Income Tax Department to Prove that Investments Made through Banking Channels is Doubtful, rules Allahabad HC
By Kalyani B. Nair - On December 21, 2023 5:35 pm - 2 mins read
Income Tax Department - Banking Channels - Investment through Banking Channel - Allahabad High Court - Investment - taxscan

The Allahabad High Court has ruled that the onus is on the Income Tax Department to prove that investments made through banking channels is doubtful. The present appeal has been filed under Section 260-A of the Income Tax Act, 1961, arising from the orderpassed by the Income Tax Appellate Tribunal, Agra Bench, for A.Y. 2010-11….

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