Cash Deposit Addition Invalid When Source Is Fully Explained with Documentary Proof

Dilipsinh Ranjitsinh Chauhan Vs ITO (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, in the case of Dilipsinh Ranjitsinh Chauhan Vs ITO, invalidated an income tax addition made for unexplained cash deposits after determining that the taxpayer had provided a comprehensive, credible documentary trail supporting the source of the funds, which the Revenue failed to rebut with contrary evidence. The case originated from a reassessment initiated after the Assessing Officer (AO) received Annual Information Return (AIR) data showing cash deposits totaling Rs. 13,01,500/- in ...