ITAT Allahabad Remands Case Over Fraudulent Cash Deposits

Advertisement Nitrangan Singh Gwal Vs ITO (ITAT Allahabad) In Nitrangan Singh Gwal vs. ITO, the ITAT Allahabad dealt with an appeal involving a ₹45,42,005 cash deposit in an ICICI Bank account during the financial year 2010-11. The Assessing Officer (AO) initiated proceedings under Section 147 of the Income Tax Act, 1961, issuing a notice under Section 148. The assessee failed to respond to multiple notices, leading to an ex parte assessment. The Commissioner of Income Tax (Appeals) [CIT(A)] also observed non-compliance during appellate proceedings. Before the tribunal, the assessee submi...