Section 68 Addition Deleted as Bank Entries Not Considered Books of Account

ITO Vs Surekha Ashok Mukkawar (ITAT Nagpur) The Income Tax Appellate Tribunal (ITAT), Nagpur, adjudicated an appeal filed by the Revenue against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] for Assessment Year 2017–18, concerning deletion of addition made under Section 68 of the Income Tax Act. The assessee had not filed a return of income for the relevant year. The Assessing Officer (AO), based on information of cash deposits amounting to Rs. 2.49 crore in a bank account, reopened the assessment under Section 147. Due to non-response from the assessee during assessment pro...