New Delhi, Sept. 8 -- A Mumbai-based woman entrepreneur who faced a tax addition of over Rs.20 lakh, partly over cash payments towards her credit card bills, has won relief from the Income Tax Appellate Tribunal (ITAT).

The tax department had questioned cash deposits and expenditures linked to her business and treated the amounts as unexplained. This case concerns Rina Radha Madhab Jena, who runs a manpower consultancy and recruitment business.

Jena filed her return for AY 2023-24, in which she reported a total income of Rs.11.78 lakh under the presumptive taxation scheme. Her declared turnover for that specific financial year was Rs.52.01 lakh, of which she made a 6% profit. The businesswoman also earned income from rent and interest....