Taxmen are elated over a recent order of the Income-Tax Appellate Tribunal (ITAT)’s Mumbai bench, which has confirmed the addition of an undisclosed income of Rs 196 crore — the peak deposit in a Swiss bank account — in the hands of an elderly taxpayer who was its “beneficial” owner. Now, tax plus penalties will be payable on this unaccounted income.
from Times of India https://ift.tt/2BcMOVf
Sunday, July 19, 2020
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