Income Already Taxed cannot be Treated Again as Unexplained Cash Credit: ITAT [Read Order]

The ITAT found that the addition under section 68 was based solely on third-party information without considering the assessee’s records.
By Sneha Sukumaran Mullakkal - On May 21, 2025 4:15 pm - 2 mins read
Unexplained Cash Credit - ITAT - TAXSCAN

The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT)held that income already taxed cannot be treated again as unexplained cash credit. Dipakkumar Pushkarray Vyas,appellant-assessee, filed his return declaring income of Rs. 19,85,572 for the year 2012-13. The case was reopened after approval and notice under section 148 was issued in March 2019. He filed a revised…

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