Section 69A Addition Cannot Be Made Through Section 154 Rectification: ITAT Hyderabad

Advertisement Sydakhatoon Mahammad Karimnagar Vs ITO (ITAT Hyderabad) The Income Tax Appellate Tribunal (ITAT), Hyderabad disposed of two appeals filed by the assessee relating to Assessment Year 2017-18 concerning additions made under Section 69A of the Income Tax Act on account of cash deposits in bank accounts. In the first appeal, the assessee, a small businesswoman engaged in stitching, embroidery, and brick manufacturing, contended that cash deposits of Rs. 33.10 lakh represented business receipts from brick sales and embroidery work, along with certain personal funds received from fa...