During the hearing, the assessee’s counsel pointed out that none of the documents produced had been specifically disputed by the Tax Authorities and demonstrated that the cash deposits were adequately backed by agricultural income and cash withdrawals
The Income Tax Appellate Tribunal (ITAT) Surat Bench has deleted an addition of Rs.3,45,000 made towards unexplained cash deposits, accepting the assessee’s explanation supported by agricultural income documents and proof of earlier bank withdrawals. The appellant, Asifiqbal Ismail Jangda, had filed his return of income for Assessment Year 2017-18 declaring Rs.2,71,610. The case was selected…
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