AO and CIT (A) ignores Cash Deposit Evidences: ITAT deletes addition u/s 69A [Read Order]

The cash deposits were proceeds from the sale of land, supported by documentation submitted to both authorities.

By Aiswarya Krishnadas - On March 11, 2024 6:32 pm - 2 mins read

AO - CIT (A) - ITAT - addition - AO and CIT (A) Ignores Cash Deposit Evidences - taxscan

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled to overturn the addition made under section 69A under Income Tax Act, as both the Assessing Officer (AO) and the Commissioner of Income Tax (Appeals) [CIT (A)] overlooked crucial evidence pertaining to cash deposits. The assessee, an individual made cash deposits…

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Topics

Assessing Officer Commissioner of Income Tax (Appeals)ITAT Ahmedabad Know Your Customer Section 69A of the Income Tax Act