CIT(A) Misreads Jewellery Sale as Purchase: ITAT quashes Cash Deposit Addition

Nidhiben Mrugeshkumar Shah Vs ACIT (OSD) (ITAT Ahmedabad) The ITAT Ahmedabad set aside an addition of ₹10 lakh under Section 69A after finding that the CIT(A) mistakenly treated jewellery sale invoices as purchase invoices. The case was remanded for fresh adjudication, with directions to supply the remand report and consider new evidence in line with natural justice. The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, adjudicated an appeal filed by the assessee, Nidhiben Mrugeshkumar Shah, against the order of the Commissioner of Income Tax (Appeals) [CIT(A)]. The dispute centered on ...