ITAT Ahmedabad Deletes ₹6.78 Lakh Section 69 Addition on Cash Deposits

Salvantsingh Swarupsingh Pallu Vs ITO (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT) of Ahmedabad has ruled in favor of an assessee, Salvantsingh Swarupsingh Pallu, by overturning an Income Tax Officer’s (ITO) decision to disallow Rs. 6,78,400 in cash deposits. The ITO had treated the amount as an unexplained investment under Section 69 of the Income-tax Act, 1961, during the assessment year 2012-13. The ITAT’s decision was based on the assessee’s substantiated claims that the cash originated from a combination of agricultural, transportation, and family income, as wel...