ITAT upholds CIT(A)’s Deletion of ₹3.4 crore Addition u/s 69A, Dismisses AO’s Appeal for Lack of Evidence [Read Order]

Considering the CIT(A) verified sources and lack of any contradictory evidence, the ITAT rejects the revenue appeal on the deletion of the addition
By Kavi Priya - On October 7, 2024 3:50 pm - 2 mins read
ITAT-ITAT-Cuttack-CITA-Commissioner-of-Income-Tax-Appeals-AO-assessing-officer-Evidence-TAXSCAN

The Cuttack Bench of the Income Tax Appellate Tribunal (ITAT) rejected the assessing officer (AO)’s appeal challenging the Commissioner of Income Tax (Appeals) [CIT(A)] deletion of Rs. 3.4 Crore addition. This decision was made due to a lack of contradictory evidence from the revenue. Rajesh Hans, the assessee had deposited Rs. 3,40,35,866 into his bank…

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