Section 69A Addition Deleted Due to Incorrect Assumption of Payment Timing

Chandra Swaminathan Vs ITO (ITAT Chennai) The assessee filed an appeal against the order of the Commissioner of Income Tax (Appeals) confirming additions of ₹49,80,330 and ₹10,80,000 as unexplained money under Section 69A for AY 2017–18. The assessee sold a residential flat on 04.10.2016 for ₹35,50,000, receiving ₹33,00,000 through bank and ₹2,50,000 in cash. She also sold household items and electronic goods for ₹8,09,600 in cash. These amounts, along with ₹1,00,000 received as gifts and ₹20,400 cash balance, totaling ₹11,80,000, were deposited into her bank account. The a...