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ITAT Restores 69A Cash Deposit Addition for Fresh Hearing, Imposes Token Cost
Case Law Details
- Case Name
- K.N. Dileep Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Bangalore
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K.N. Dileep Vs ITO (ITAT Bangalore)
No Escape from Compliance: ITAT Restores 69A Cash Deposit Addition for Fresh Hearing, Imposes Token Cost
Bangalore Tribunal in dealt with addition of unexplained cash deposits & condonation of delay. Assessee, engaged in trading of garnets & agricultural activities, had not filed his return of income for the year. Despite issue of notice u/s 142(1), there was no compliance. AO, therefore, proceeded u/s 144 & completed the best judgment assessment by determining total income at ₹1,00,62,955 comprising of unexplained money of ₹...
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