Double addition flagged: ITAT gives vegetable trader one more chance-with cost

Advertisement Syed Ghouse Peer Vs ITO (ITAT Bangalore) The ITAT Bangalore set aside ex-parte assessment and appellate orders where substantial additions of ₹3.53 crore were made under section 69A on account of cash deposits and withdrawals, noting possible double addition. The assessee, a small vegetable trader from Kolar and a non-filer, failed to respond to multiple notices during assessment and appellate stages, leading to reopening under section 147 and ex-parte addition of both cash deposits and withdrawals from bank accounts as unexplained income. Before the Tribunal, it was contend...