ITAT Jaipur Granted Taxpayer One More Chance to Disown PAN-Linked Bank Account

Buniya Amin Vs ITO (ITAT Jaipur) The Income Tax Appellate Tribunal examined an appeal arising from an addition of ₹76,31,100 made under Section 69A of the Income-tax Act, 1961, on account of unexplained cash de-posits for the assessment year 2017–18. The Assessing Officer had reopened the assessment after re-ceiving information about cash deposits of ₹32,46,300 in one bank account. During reassessment pro-ceedings, it emerged that the assessee allegedly maintained two additional savings bank accounts, re-sulting in total cash deposits of ₹76,31,100 across three accounts. As the assesse...