Section 69A Addition Deleted as Bank Account Belonged to Company: ITAT Bangalore

Advertisement Harikrishna Singanamala Vs ITO (ITAT Bangalore) The appeal related to Assessment Year 2017-18 and challenged the order of the Commissioner of Income Tax (Appeals) dated 22/09/2025. The assessee also filed a stay application. The sole issue before the Tribunal was whether the Commissioner of Income Tax (Appeals) was justified in confirming the addition of Rs. 3,04,20,008 made by the Assessing Officer as unexplained money under Section 69A of the Income-tax Act, 1961. During the assessment proceedings, the Assessing Officer found credits aggregating Rs. 3,04,20,008 in a bank acc...