Purchases reflected in Book of Accounts cannot be treated as Unexplained Investment: ITAT sets aside Order of CIT(A) [Read Order]

By Sunayana Dhal - On August 13, 2023 3:30 pm - 2 mins read
Purchases reflected in Book of Accounts - Purchases - Book of Accounts - Unexplained Investment - Investment - ITAT sets aside Order of CIT(A) - ITAT - Taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the purchases reflected in the books of accounts cannot be treated as unexplained investments. The assessee is an individual deriving income by way of salary, capital gains, and income from other sources. The Investigation Wing of the Income Tax Department found out that…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader