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The Income Tax Appellate Tribunal (ITAT) in Mumbai recently deleted a major addition made by the tax authorities against an Indian engineer. The bone of contention was the engineer’s alleged under-reporting of income while making substantial financial investments.

The verdict by the authorities underpinned the increasing tax complications faced in high-value financial transactions. With their order, ITAT Mumbai not only brought to an end the six-year-long stand-off and provided the taxpayer relief, but also shed light on the digital monitoring tools currently deployed by the Income Tax Department.

Tax Advisory Platform Explains The Case

Tax Buddy, a tax advisory platform, provided a detailed insight into the case at hand via a social media post. The case concern

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