Addition u/s 68 of Income Tax Act cannot be made Without Examining Source of Cash Deposit: ITAT [Read Order]

Addition under Section 68 of the Income Tax Act, 1961, cannot be made without examining source of cash deposit, rules, ITAT
By Aiswarya Krishnadas - On February 10, 2024 4:33 pm - 2 mins read
us 68 of Income Tax Act - examining source of cash deposit - ITAT - TAXSCAN

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) observed that addition under Section 68 of the Income Tax Act, 1961, cannot be made without examining source of cash deposit The assessee, a cooperative society registered under the Karnataka Cooperative Societies Act, 1959, filed its return of income for the Assessment Year 2017-18 on…

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