Taxman Says Builder Had Black Money, Turns Out He Was Paying Labourers in Cash
ITAT Mumbai has dismissed the tax department’s claim of black money against F A Construction, holding that large cash withdrawals were legitimately used to pay daily-wage labourers at remote construction sites. The Tribunal quashed additions of over ₹35 crore under Section 69A, emphasizing documented bank sources and no adverse findings in remand — proving once again that cash-heavy sectors like construction often face initial suspicion that clears with proper evidence.
