Business News

Income Tax Dept flags ₹2.33 crore cash deposit; why taxpayers need a clear trail for large cash withdrawals

FinSiddhi

The ITAT deleted a ₹2.33 crore tax addition after finding that Bhupendra Flour Mills had recorded earlier cash withdrawals of ₹2.325 crore and the Income Tax Department could not prove the money was used elsewhere. 
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