No prudent man will retain a sum for long period to redeposit in account: ITAT upholds addition made u/s 69A of Income Tax Act [Read Order]

By Aparna. M - On January 21, 2024 9:00 am - 2 mins read
itat bangalore - redeposit in account - income tax act - ITAT ruling on sum redeposit in account - ITAT decision on long-term sum retention - taxscan

The Income Tax Appellate Tribunal ( ITAT ), Bangalore bench while upheld the addition made under Section 69 A of the Income Tax Act, 1961 held that no prudent man would retain a sum for a long period to redeposit in an account. The assessee, Shaon Paul is non resident Indian. For the Assessment Year…

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