Calcutta HC confirms Income Tax Addition for Deposit of Unaccounted Cash in Shell Companies [Read Order]

Calcutta HC - Income Tax - Deposit - taxscan

While allowing an appeal filed by the income tax department, the Calcutta High Court has confirmed the addition in respect of the deposit of the unaccounted cash using nine shell companies. The assessment against the assessee, M/S Arshia Global Tradecom Private Limited was reopened under Section 147 of the Income Tax Act on the ground…

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