Addition for cash deposited in Bank: ITAT Remits the Case for Further Adjudication

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 assessee filed an ...