Central Board of Direct Taxes (CBDT) on Friday clarified that Rs 36 lakh have been recovered from a start-up, namely, Travel Khana as part of recovery of outstanding demand on account of Angel Tax.An official statement said that there were allegations that the act was in violation of the CBDT instructions dated December 24, 2018 pertaining to recovery of dues in Angel Tax cases.The CBDT statement said, "On ascertaining the facts it is seen that the additions in the case were made under section 68 of the Income-tax Act, 1961 on account of unexplained cash credits and not under section 56(2)(viib) on account of premium on shares, as has been alleged."During the assessment proceedings, the assessing officer requested for confirmation of the persons from whom deposits had been received. Wherever confirmations were submitted, the same was accepted by the assessing officer and no addition was made. However, where no confirmations were furnished by the assesse, the assessing officer made the
