Unexplained Cash Deposit of ₹22.78 Lakh u/s 69A: ITAT Deletes Addition due to Sufficient Evidence [Read Order]
It was noted that the AO wrongly invoked section 69A despite partially accepting cash receipts from debtors based on confirmation letters. The appellant provided various documents, including tax returns, balance sheets, and cashbooks, none of which were verified or discredited
The Rajkot Bench of Income Tax Appellate Tribunal (ITAT) deleted the addition of ₹22.78 lakh made under section 69A of Income Tax Act,1961, citing sufficient evidence supporting the cash deposits. Tapulal Nathalal Dasani, appellant-assessee, filed a return of income for the assessment year 2017-18, declaring ₹7,85,850. The case was selected for Limited Scrutiny, and a…
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