Assessee deposits Mobile Recharge Sale Proceeds in Dena Bank Account, pays Mobile Companies: ITAT deletes Addition on Unexplained Cash u/s 69 [Read Order]
The Chartered Accountant failed to inform the assessee of appellate hearing details, leading to an ex parte order, mitigated by a notarized affidavit acknowledging the mistake
In a recent ruling the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) deleted unexplained cash under Section 69 of Income Tax Act, 1961 as the individual deposited mobile recharge sale proceeds into their Dena Bank account and subsequently paid mobile companies. The assessee was an individual. For the Assessment Year 2017-18,…
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