Addition of opening cash balance as undisclosed income not impermissible: ITAT Jodhpur

Naveen Bolia Vs ITO (ITAT Jodhpur) The case of Naveen Bolia Vs ITO, adjudicated by the Income Tax Appellate Tribunal (ITAT) Jodhpur, revolves around the legality of assessment and the merits of certain additions made by the Assessing Officer (AO). The appellant, Naveen Bolia, challenged the assessment order on two primary grounds: the legality of the assessment process and the merits of the additions made by the AO. The AO had alleged that the appellant failed to file the Return of Income (ROI) for various assessment years, leading to the addition of Rs. 16,98,502/- as undisclosed income for t...