Ex-Parte Section 69A Addition Set Aside for Lack of Verification of Agency Role

Aliveni Gurram Vs ITO (ITO Hyderabad) Entire cash deposits can’t be branded as 69A income of bank agent: ITAT orders fresh probe ITAT Hyderabad set aside ex-parte reassessment order wherein entire cash deposits of ₹1.02 crore were treated as unexplained money u/s 69A. Assessee, an authorised Business Correspondent of State Bank of Hyderabad, contended that cash deposits represented collections from villagers on behalf of bank & her real income was only commission of about ₹1.06 lakh. Tribunal noted that assessment as well as first appellate order were completed ex-parte without exami...