https://www.taxtmi.com/highlights?id=61757 Nature of income - Since the assessee admittedly offered the income in his return pursuant to notice u/s 148 of the Act, which has been accepted by the AO as such, in my considered opinion, the ld. CIT(A) was not justified in countenancing the action of AO in treating additional income as unexplained cash credit or unexplained investment attracting sections 68 or 69 of the Act and consequently charging higher rate of taxation. - AT en-us Wed, 02 Feb 2022 16:37:27 +0530 Wed, 02 Feb 2022 16:37:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=61757 Nature of income - Since the assessee admittedly offered the income in his return pursuant to notice u/s 148 of the Act, which has been accepted by the AO as such, in my considered opinion, the ld. CIT(A) was not justified in countenancing the action of AO in treating additional income as unexplained cash credit or unexplained investment attracting sections 68 or 69 of the Act and consequently charging higher rate of taxation. - AT Highlights Income Tax Wed, 02 Feb 2022 16:37:27 +0530 https://www.taxtmi.com/highlights?id=61757