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ITAT: Money Can’t be Treated as ‘Unaccounted’ Merely Because of Non-Response from Creditors - (26 Jul 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Delhi bench, while deleting penalty under section 271(1)(c) of the Income Tax Act, 1961 has held that the money cannot be treated as ‘unaccounted’ merely because of non-response from the creditors solely because of non-response from the creditors.

Tags : ITAT   CREDITORS   UNACCOUNTED  

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