Addition u/s. 68 remanded back with direction to file all documents explaining source of cash deposits

Nipa Kashyap Patel Vs ACIT (ITAT Mumbai) ITAT Mumbai held that matter regarding addition under section 68 of the Income Tax Act remanded back for fresh consideration directing appellant to file all documents/ details and supporting evidence explaining source of cash deposits. Facts- The case of the Appellant was selected for regular scrutiny and assessment was completed u/s. 143(3) of the Act at ‘Nil’ income. Subsequently, information was received by AO that during the assessment proceedings pertaining to the husband of the Appellant, reliance was placed by her husband on the bank statemen...