Clerical Error in Accounts Triggers Fresh Probe of Cash Deposit

Hansraj Jain Vs ITO (ITAT Bangalore) Wrong Date, Wrong Addition: ITAT Restores Cash Deposit Issue Where Bank Entry Was on 15-11-2016, Not 05-11-2016 Bangalore ITAT allowed Assessee’s appeal for statistical purposes and restored the issue of addition of ₹34,49,310 u/s 68 to the file of AO for fresh verification after noting a fundamental factual error in the assessment. Assessee, a jeweller, was subjected to addition on the premise that cash of ₹34.49 lakh was deposited in Yes Bank on 05.11.2016 when sufficient cash balance was allegedly not available. Tribunal observed that bank statemen...