ITAT Mumbai remands ₹3 crore addition case – directs AO to verify FDs, cash & flat investment afresh
Case Law Details
Case Name : ITO Vs Siddharth Suryakant Deshmukh (ITAT Mumbai)
Related Assessment Year : 2017–18
Courts :
All ITAT ITAT Mumbai
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ITO Vs Siddharth Suryakant Deshmukh (ITAT Mumbai)
ITAT Mumbai remands ₹3 crore addition case – directs AO to verify FDs, cash & flat investment afresh- Cryptic CIT(A) order set aside- Tribunal stresses on reasoned findings & natural justice Additional bank evidence accepted – ITAT orders fresh inquiry on unexplained deposits
Background
In these cross appeals, Revenue challenged the deletion of addition relating to investment in flat, while Assessee contested the sustenance of additions towards fixed deposits & cash deposits treated as unexplained.
The assessment was completed...
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