Pune ITAT: Cash Deposits Cannot Be Taxed as Unexplained Money When Scrap Business Turnover Is Accepted in Other Years

Pune ITAT observed that the Revenue had accepted the assessee’s scrap business in earlier and later years by estimating profit on turnover. The ruling held that this history must be considered before treating deposits as unexplained income.

The post Pune ITAT: Cash Deposits Cannot Be Taxed as Unexplained Money When Scrap Business Turnover Is Accepted in Other Years appeared first on TaxGuru.