ITAT Remands Cash Deposit Addition as Assessee Failed to Prove Business Activity

ITO Vs Chennarapu Ashok Kumar (ITAT Hyderabad) Hyderabad ITAT Orders Fresh Verification of Cash Deposits Due to Lack of Supporting Evidence; Section 69A Addition Sent Back for Reconsideration Because Business Receipts Claim Was Unverified; ITAT Says Cash Deposits Cannot Be Accepted as Business Receipts Without Proper Proof; Hyderabad ITAT Finds CIT(A) Relied on Financial Statements Without Adequate Evidence. The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) dealt with a Revenue appeal against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, ...