ITAT Pune Remands ₹1.04 Cr Unexplained Cash Case to CIT(A)

Annasaheb Ramesh Chhaganlal Ajmera Nagari Sahakari Patsanstha Ltd. Vs ACIT (ITAT Pune) Income Tax Appellate Tribunal (ITAT) Pune has set aside the matter involving unexplained cash deposits of ₹1.04 crore by Annasaheb Ramesh Chhaganlal Ajmera Nagari Sahakari Patsanstha Ltd. for fresh adjudication by the Commissioner of Income Tax (Appeals) [CIT(A)]. The case pertains to Assessment Year (AY) 2012-13, where the Assessing Officer (AO) treated the deposits as unexplained income under Section 144 read with Section 147 of the Income Tax Act. The cooperative society argued that the deposits origina...