ITAT Ahmedabad Condones Delay, Remands Section 69A Case

Govindbhai Atmaram Thakor Vs ITO (ITAT Ahmedabad) In the case of Govindbhai Atmaram Thakor vs. ITO, the ITAT Ahmedabad considered an appeal challenging the addition of ₹18,01,075 as unexplained income under Section 69A of the Income Tax Act, 1961. The assessee, an agriculturist and long-time employee of Modern Denim Ltd., failed to respond to notices issued under Sections 139 and 142(1), leading to an ex-parte assessment under Section 144. The Assessing Officer (AO) observed substantial cash deposits in the assessee’s bank account during the demonetization period and made additions, includ...