Taxpayer's Car Purchase Cost Added to Income Due to Unaccepted Explanation, Later Removed from Assessment Order.

Taxpayer's Car Purchase Cost Added to Income Due to Unaccepted Explanation, Later Removed from Assessment Order. https://www.taxtmi.com/highlights?id=52880 Unexplained investment - Purchase of vehicle - In the assessment order, the AO has also accepted that the assessee has sufficient bank balance to meet out for purchase of car, however, did not accept the explanation of the assessee and added the same to the total income of the assessee. - additions deleted - AT en-us Fri, 10 Apr 2020 12:56:49 +0530 Fri, 10 Apr 2020 12:56:49 +0530 TaxTMI RSS Generator Taxpayer's Car Purchase Cost Added to Income Due to Unaccepted Explanation, Later Removed from Assessment Order. https://www.taxtmi.com/highlights?id=52880 Unexplained investment - Purchase of vehicle - In the assessment order, the AO has also accepted that the assessee has sufficient bank balance to meet out for purchase of car, however, did not accept the explanation of the assessee and added the same to the total income of the assessee. - additions deleted - AT Highlights Income Tax Fri, 10 Apr 2020 12:56:49 +0530 https://www.taxtmi.com/highlights?id=52880