Addition u/s 69A - unexplained cash deposits in the saving bank ...

Tribunal Criticizes Revenue for Ignoring Evidence, Misattributing Cash to Wrong Account, and Unjustly Dismissing Business Income Claim.

March 8, 2024

Case Laws Income Tax AT

Addition u/s 69A - unexplained cash deposits in the saving bank - The tribunal found the orders of the Revenue authorities to be arbitrary, with a failure to consider the appellant's submissions and evidence. - The tribunal found that the AO had erroneously attributed cash deposits to a bank account not belonging to the appellant, and despite being made aware of this error, the ld. CIT(A) confirmed the addition. Furthermore, the tribunal noted that the appellant had disclosed her business income under section 44AD, yet the authorities failed to provide any reasoned basis for rejecting her claim regarding the cash deposits.

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Addition u/s 69A - unexplained cash deposits in the saving bank ...

Tribunal Criticizes Revenue for Ignoring Evidence, Misattributing Cash to Wrong Account, and Unjustly Dismissing Business Income Claim.

March 8, 2024

Case Laws Income Tax AT

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