ITAT Ahmedabad Remands Section 69A Additions for Fresh Adjudication

Ratansinh Solanki Vs ITO (ITAT Ahmedabad) ITAT Ahmedabad sets aside additions made under Section 69A; Directs fresh adjudication after admitting additional evidence under Rule 46A Assessee  engaged in a small-scale milk & buttermilk business, appealed against the additions made by AO u/s 69A & 115BBE. The case was triggered by cash deposits of Rs. 56.33 lakhs & Rs. 1.63 crores in two bank accounts, with no return of income filed initially.  Based on cash deposits reported via the NMS/INSIGHT portal, reassessment was initiated u/s147. AO treated cash deposits as unexplained money ...