School Fees Deposited In Bank Account Treated As Unexplained Income; ITAT Remits To AO To Examine Exemption

The ITAT remitted a case where school fees deposited in the bank account were treated as unexplained income. It directed the Assessing Officer to re-examine whether exemptions under relevant sections apply. The article explores burden of proof, arm’s length transactions, scope of disclosure, and jurisprudence on unexplained income under the Act.