The tribunal observed that the assessee had given reasonable explanations, and the Revenue had not provided any evidence to contradict the claim.
By Adwaid M S - On March 10, 2025 10:37 am - 2 mins read
The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench ruled in favor of the assessee and set aside the addition of Rs.22.39 lakh made under Section 69A of the Income Tax Act, 1961. The tribunal held that the assessee had sufficiently explained the source of his cash deposits made during the demonetization period, and the tax…
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