Corporate TaxArticle·7 July 2026
ITAT Deletes addition of DMT cash deposits
By J the App
Executive Summary
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench, deleted an addition on cash deposits, holding that the assessee acted only as a commission agent for licensed Direct Money Transfer (DMT) providers.
The deposits represented customer funds promptly remitted through banking channels and not the assessee’s own income.
Domain | Direct Tax | Corporate Tax
Background
The assessee was the propriet...
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