Income from transport receipts u/s 44AE of the Income Tax Act

Last updated: 25 June 2021
Quick Summary
This case concerns a taxpayer whose significant cash deposits in bank accounts were questioned by the Assessing Officer (AO). The taxpayer claimed these deposits originated from their transport business, where payments were often received in cash. However, the AO made an addition of Rs. 1,69,57,000/- under Section 69A of the Income Tax Act, citing a lack of supporting documents and corresponding bank withdrawals to explain the cash deposits. The Income Tax Appellate Tribunal reviewed the decision.

Court :
ITAT Bangalore

Brief :
This appeal at the instance of assessee is directed against the order of CIT(A) dated 14.12.2018. The relevant assessment year 2015-16.

Citation :
ITA No.123/Bang/2019

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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

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