Agricultural Cash Deposits Explained, Section 69A Addition Deleted

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...