Private Limited Company and Director are Different Persons: ITAT upholds Addition for Exceeding Limit of Cash Transactions u/s 269SS [Read Order]

Private Limited Company - ITAT - Cash Transactions - Cash - Transactions - Income tax - tax - taxscan

Income Tax Appellate Tribunal ( ITAT ) upheld the addition for exceeding the limit of cash transactions under section 269SS of Income Tax Act, 1961 made by the Assessing Officer (AO). The authorities of Vijay Pal Rao (Judicial Member) and Ramit Kochar (Accountant Member) observed that the private limited company and director were different persons….

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