Despite the absence of conclusive proof for the deposit, the tribunal gave the benefit of doubt for the remaining amount and allowed the appeal, deleting the addition confirmed by the CIT(A)
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) deleted addition of Rs.9,00,500/- made by the Assessing Officer(AO) during demonetization, accepting the claim that a significant portion of the deposit came from the assessee’s mother’s lifetime savings. Devadass Suresh, appellant-assessee, filed a return of income on 25.09.2017, declaring Rs.2,99,310/-. During scrutiny, the AO…
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