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Addition for cash deposited in Bank: ITAT Remits the Case for Further Adjudication
Case Law Details
- Case Name
- Hari Chand Vs ITO (ITAT Amritsar)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Amritsar
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Hari Chand Vs ITO (ITAT Amritsar)
Brief fact of the case is that the assessee deposited cash in the bank account amount to Rs.90,17,000/-. The assessee claimed that the amount was received from sale of the property. The said amount, which was deposited in PNB, Phillaur Branch, bearing a/c no. 0384000105228751. The ld. AO had assessed the said amount as unexplained cash deposit and addition was confirmed u/s 69A of the Act. During the assessment, further the addition was made on undisclosed interest income amount to Rs.60,996/- with the total income of the assessee. Aggrieved a...
