Section 69A of IT Act not applicable if Assessee has plausible Explanation regarding Source of Jewellery Found during Search : ITAT deletes Addition [Read Order]

By Aparna. M - On June 1, 2023 2:30 pm - 2 mins read
Assessee plausible Explanation regarding - Source of Jewelry Found during Search - ITAT deletes Addition - TAXSCAN

The Pune  bench of Income Tax Appellate Tribunal (ITAT) has recently while deleting the addition made by the Assessing Officer (AO) held that provision of Section 69A of the Income Tax Act should not be applied if assessee has brought plausible explanation regarding the source of jewelry found during search. Assessee Jayashri Shrikant Deshmukh is…

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