Deeming fiction u/s 69A cannot be invoked mechanically or in terrorem: ITAT Ahmedabad

Pinkeshkumar Melapchand Shah Vs ITO (ITAT Ahmedabad) Deeming fiction u/s 69A cannot be invoked mechanically or in terrorem : ITAT Ahmedabad: ITAT Deletes ₹16.69 Lakh Addition for Cash Deposits – Sales Proceeds from Garment Business Accepted; Section 44AD Presumptive Taxation Applies Ahmedabad ITAT  has deleted an addition of ₹16,69,608/- made u/s  69A in respect of cash deposits in Assessee’s bank a/c, holding that the deposits represented recorded sales proceeds from his garment trading business &  were taxable, if at all, only under presumptive provisions of sec 44AD. Assess...