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Books of Account must be Rejected u/s 145(3) before Unexplained Cash Additions: ITAT Deletes ₹64 Lakh Addition
The New Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer cannot treat cash deposits as unexplained income without...

Books of Account must be Rejected u/s 145(3) before Unexplained Cash Additions: ITAT Deletes ₹64 Lakh Addition
The Tribunal deleted the ₹64 lakh addition, since the AO accepted the books and failed to follow the mandatory procedure, the addition and consequential penalty under Section 271(1)(c) were held unsustainable.


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