ITAT Deletes Section 69A Addition as Cash Deposits Represented Recorded Business Receipts

ITO Vs Moti Lal And Sons (ITAT Lucknow) The Revenue appealed before the ITAT Lucknow against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] for Assessment Year 2017-18, whereby the CIT(A) deleted an addition of ₹1,11,02,500 made under section 69A of the Income-tax Act. The Revenue primarily contended that the CIT(A) had admitted additional evidence without obtaining a remand report under Rule 46A of the Income-tax Rules. During the appeal, the assessee also filed an application under Rule 27 of the ITAT Rules seeking to raise additional grounds challenging the validity of the...