Rs 35L cash, others names on insurance: Man gets notice, but ITAT gives relief
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The insurance agent in the case deposited Rs 35 lakh in cash into his bank account. The department classified the amount as “unexplained money” and sought details of its source. The man maintained that the cash was not his personal money but represented insurance premiums collect...
The insurance agent in the case deposited Rs 35 lakh in cash into his bank account. The department classified the amount as “unexplained money” and sought details of its source. The man maintained that the cash was not his personal money but represented insurance premiums collected from customers who had bought policies through him.
Original Source
https://timesofindia.indiatimes.com/business/india-business/insurance-agent-deposited-rs-35-lakh-in-cash-collected-as-policy-premiums-tax-officer-called-it-unexplained-money-saying-his-name-was-missing-from-some-policies-why-itat-jaipur-gave-full-relief/articleshow/135563142.cms
