ITAT Mumbai ruling: ₹16.64 lakh cash seized in tax raid, taxpayer wins ₹8.87 lakh unexplained cash dispute

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The ITAT Mumbai deleted an ₹8.87 lakh tax addition after accepting a taxpayer’s explanation for cash found during an income-tax search. The tribunal said family savings and gifts must be assessed based on human probabilities.

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ITAT Mumbai ruling: ₹16.64 lakh cash seized in tax raid, taxpayer wins ₹8.87 lakh unexplained cash dispute

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