ITAT Deletes Cash Deposit Addition: Unchallenged Affidavit of Wife Accepted

Sudarsan De Vs DCIT (ITAT Delhi) ITAT Delhi deletes Cash Deposit Addition: Unchallenged Affidavit of Assessee’s Wife Accepted as Valid Evidence – No Cross-Examination, No Addition Delhi ITAT has provided relief to Assessee, by deleting an addition of ₹8.79 lakh made on account of cash deposits in a joint bank account. Tribunal held that the cash deposits were duly explained as belonging to Assessee’s wife & could not be taxed in the hands of the assessee. The case arose when AO noted cash deposits of ₹8.79 lakh in a joint account maintained by Assessee with his wife during As...