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Section 69 Addition: ITAT Directs Cash Deposits & Gas Cylinder Sales Verification
Case Law Details
- Case Name
- Neha Modi Vs ITO ( ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Ahmedabad
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Neha Modi Vs ITO (ITAT Ahmedabad)
In the case Neha Modi vs. ITO, the Income Tax Appellate Tribunal (ITAT) Ahmedabad heard an appeal against the order of the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre for the Assessment Year 2011–12. The main issue involved the addition of ₹47,79,600 under Section 69 of the Income Tax Act, which was treated as unexplained cash credits by the Assessing Officer and confirmed by the CIT(A). The assessee, engaged in the trading, loading, and unloading of IOC gas cylinders, explained that the cash deposits in her bank account were legit...
