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Addition of cash deposits unsustainable if reasonable & plausible explanation given
Case Law Details
- Case Name
- Gagandeep Singh Bakshi Vs ITO (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
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Gagandeep Singh Bakshi Vs ITO (ITAT Pune)
ITAT Pune held that addition on account of cash deposits unsustainable as reasonable and plausible explanation given by the assessee.
Facts- The appellant is an individual deriving income under the head “salaries”, “capital gain” and “income from other sources”. ROI for A.Y. 2014-15 was filed on 02.07.2014 declaring total income of Rs.6,66,050/-. Against the said ROI, the assessment was completed ex-parte by the Assessing Officer passed u/s 144 of the Income Tax Act, 1961 after making addition on account of unexplained cash deposits in the ...
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