ITAT Remands Rs. 2.31 Crore Addition Matter to Conduct Appropriate Enquiry for Cash Deposit and S. 40(a) Disallowance Matter [Read Order]
The tribunal observed that by considering the facts and in the interest of justice it was appropriate to remand the matter to the AO for fresh adjudication and directed the AO to conduct appropriate enquiries.
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has remanded a case involving additions of Rs. 2.31 crore back to the Assessing Officer (AO) for fresh adjudication, citing the need for appropriate enquiries into unexplained cash deposits and disallowances under Section 40(a)(ia) of the Income Tax Act. JCR Traders (assessee) a partnership firm…
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