Addition under section 69A unsustainable for cash deposited as facilitator

Ashish Natvarlal Vashi Vs ITO (ITAT Surat)

Conclusion- Cash deposited in bank was transferred to insurance company by way of insurance premium in the name of respective insurer – Assessee acted as facilitator and not the owner of the cash deposited in bank account – Addition not possible under section 69A.

Facts- The assessee deposited cash of INR 26,77,200 and INR 21,71,644 in his bank account. Assessee having main source of income as salary was question the source of cash deposi

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