ITAT Offers Tax Relief to Assessee Who Plants 500 Trees Amid Rs 11.22 Cr Addition
An Income Tax Appellate Tribunal (ITAT) has offered a unique conditional relief to a taxpayer facing a Rs 11.22 crore tax addition on his returns. The assessing officer had scrutinised the taxpayer's finances and flagged large cash deposits, unsecured loans worth crores, and an unsubstantiated agricultural income claim of Rs 3 lakh. The taxpayer had filed an ITR declaring Rs 1.79 lakh in income, which raised red flags during assessment. In an unconventional move, the ITAT offered the individual a chance at relief on the condition that he plants 500 trees. The case highlights both the scrutiny applied to suspicious financial disclosures and the tribunal's willingness to incorporate environmental responsibility into its rulings.
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