No Deeming Provision stands when Source of Income explained with Corroborative Evidence: ITAT sets aside Revisional Order [Read Order]

By Taxscan Team - On August 20, 2022 2:43 pm - 2 mins read

No deeming provision - source of income - corroborative evidence - ITAT - revisional order - taxscan

The Income Tax Appellate Tribunal (ITAT), Chandigarh bench has held that no deeming provision can be invoked when the source of the income was explained with the corroborative evidence and set aside the Revisional order by PCIT. The assessee, Gandhi Ram filed his return of income declaring a total income of Rs. 1,08,53,110/- on 07.11.2017…

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