Income Tax Addition for Cash Deposits not valid when Certificates from the Bank denies the existence of Bank Accounts: ITAT [Read Order]

Income - Tax - Addition - Cash - Deposits - Certificates - Bank - Accounts - ITAT - TAXSCAN

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that Income Tax Addition for Cash deposits is not valid when certificates from the Bank denies the existence of Bank accounts. YaminibenSandkumar Bhatt, the assessee stated that primary pleadings and argumentsagainst the additions made were thatit tantamounted to duplicate addition since cash deposited…

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