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
The tax officer noticed discrepancies while examining the insurance documents that the man submitted to support his explanation. (Image for representative purpose only) An insurance agent based in Rajasthan came under the Income Tax Department’s scrutiny for alleged unexplained cash deposits in his bank account. The agent claimed these were payments for premiums of policyholders.The…
