Rough Notings by Assessee to Prove Payment of LIC Premium Sufficient to Prove Genuineness of Cash Deposit: ITAT deletes Addition [Read Order]

ITAT - assessee - actual transactions - LIC Premium - taxscan

The Income Tax Appellate Tribunal (ITAT), Jaipur bench has deleted an addition treating LIC premium as unexplained cash deposit by accepting the rough notings by the assessee as actual transactions. The appeal has been filed by the assessees, Anita Jain, Usha Jain and Sunita Jain against the orders of Commissioner of Income Tax (CIT), dated…

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