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Agricultural Cash Deposits Explained, Section 69A Addition Deleted
Case Law Details
- Case Name
- Kanubhai Maganbhai Patel Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Ahmedabad
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Kanubhai Maganbhai Patel Vs ITO (ITAT Ahmedabad)
Agricultural Cash Deposits Explained; Reopening Sustained but Addition u/s 69A Deleted – ITAT Ahmedabad
The Ahmedabad SMC Bench of the ITAT allowed the appeal of an agriculturist assessee and deleted the addition of ₹11.01 lakh made under section 69A on account of alleged unexplained cash deposits for AY 2012-13.
The case was reopened based on information of cash deposits of ₹10.66 lakh in a cooperative bank account. As the assessee did not respond to notices during reassessment, the AO treated the entire deposits as unexplained money. The...
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