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ITAT Jaipur Directs Fresh Examination of Cash Deposits; Upholds Reassessment Initiation
Case Law Details
- Case Name
- Akshat Loyalka Vs ITO (ITAT Jaipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Jaipur
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Akshat Loyalka Vs ITO (ITAT Jaipur)
ITAT Jaipur Directs Fresh Examination of Cash Deposits in Akshat Loyalka Case; Upholds Reassessment Initiation
Jaipur: The Income Tax Appellate Tribunal (ITAT), Jaipur Bench, in a ruling pronounced on May 27, 2025, addressed an appeal by assessee Akshat Loyalka against the Income Tax Officer (ITO) concerning the reopening of assessment proceedings and a subsequent addition of Rs. 12,30,000 under section 69A of the Income Tax Act, 1961, for unexplained cash deposits. While the tribunal dismissed the challenge to the initiation of reassessment...
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