ITAT Remands Case for Fair Hearing in ₹49.5 Lakh Addition under Section 69A

Anjaiya Jewellery Pvt. Ltd. Vs ACIT (ITAT Ahmedabad) In the case of Anjaiya Jewellery Pvt. Ltd. Vs ACIT (ITAT Ahmedabad), the assessee challenged the order passed by the Commissioner of Income Tax (Appeals) [CIT(A)] regarding the assessment for the year 2017-18. The primary issue involved the addition of ₹49.5 lakh under section 69A of the Income Tax Act, based on cash deposits allegedly made out of sales proceeds during the business operations. The assessee raised several grounds, primarily focusing on the denial of natural justice due to the non-granting of an adjournment request and lack ...