Addition Deleted Because Ownership of Cash Cannot Be Presumed on Suspicion

Jagir Kaur Vs ITO (ITAT Chandigarh) Ownership of Money cannot be presumed on Suspicion or Conjecture- Affidavits Unrebutted—ITAT Deletes Addition u/s 69- Assessee filed return for AY 2013-14 declaring Rs.7,12,110/-. Case was reopened u/s 147 on the basis of cash deposits of Rs.13,85,349/- in a joint SBI account with her daughter. AO issued notice u/s 148 on 20.02.2020, & after considering replies & non-submission of documentary proof for agricultural activity, treated cash deposits of Rs.12,00,000/- as unexplained investment u/s 69. Assessed income was determined at Rs.19,12,110/- &...