No Explanation as to Source of Credit Card Payment: ITAT upholds Addition u/s 69C of Income Tax Act [Read Order]

Source of Credit Card Payment - ITAT upholds Addition - ITAT - Credit Card Payment - Income Tax Act - Income Tax - taxscan

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the addition under Section 69C of the Income Tax Act, 1961 as explanation as to source of credit card payment was not furnished by the assessee. During the course of scrutiny of the income tax return by the assessee,Pavuluri Sylendra, the Assessing Officer…

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