ITAT Guwahati Deletes ₹1.75 Cr Cash Deposit Addition & Quashes 263 Revision

Likha Saaya Vs ITO (ITAT Gauhati) ITAT Guwahati Deletes ₹1.75 Cr Cash Deposit Addition & Quashes 263 Revision – Redeposit of Own Withdrawals Accepted, Revision During Pending Appeal Held Invalid Assessee, a Scheduled Tribe member of Arunachal Pradesh, was engaged in transport contracts with the State Government &  claimed exemption u/s 10(26). For AY 2010–11, he reported gross receipts of ₹13.44 crore &  offered 10% as income, which was accepted as exempt. However, AO noticed cash deposits of ₹1.75 crore in Vijaya Bank &  ₹18 lakh in Axis Bank, treating them as u...