Cash Deposits made from Sale Proceeds: ITAT directs Deletion of S.69 Income Tax Additions [Read Order]

ITAT relied on the documentary evidence adduced by the Appellant to pass the ruling
By Avinash Kurungot - On October 12, 2024 12:04 pm - 2 mins read
Cash Deposits - Sale Proceeds -ITAT - Deletion - Income Tax Additions - taxscan

The Income Tax Appellate Tribunal ( ITAT ), Visakhapatnam in a recent matter directed the Assessing Officer (AO) to delete additions made under Section 69A read with Section 115BBE of the Income Tax Act, 1961 in light of discovery that cash deposits in the Assessee’s bank accounts have been obtained through sale proceeds. The Assessee,…

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