Employee Cannot Be Taxed for Employer’s Funds – ITAT Remands 69A Addition

Ramkumar Tallah Vs ITO (ITAT Bangalore)

Employee Cannot Be Taxed for Employer’s Funds – ITAT Remands 69A Addition; 69A Addition Unsustainable Without Proper Verification – Tribunal Grants Relief

Bangalore ITAT dealt with addition of cash deposits in employee’s bank account. Assessee, an employee of M/s. Dreamz Infra India Ltd., was subjected to reassessment u/s 147 r.w.s. 143(3) wherein AO treated cash deposits of ₹16.69 lakh in his bank account as unexplained money u/s 69A. CIT(A) confirmed the addition holding that the Assessee had failed to exp

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