ITAT restricts addition to 50% for non-furnishing of requisite detail related to refund of advances from customers

Ravindra Dattu Jadhav Vs ITO (ITAT Pune) Introduction: The case of Ravindra Dattu Jadhav vs. ITO, heard at ITAT Pune, involves an individual engaged in small-scale land trading and agricultural activities. The Assessing Officer treated a significant bank deposit as undisclosed income, leading to a dispute. The CIT(A) partially upheld the addition, prompting the appellant to approach ITAT Pune for relief. Detailed Analysis: Ravindra Dattu Jadhav, involved in land trading and assisting his parents in running a tea shop, also undertakes agricultural activities on rented land. The Assessing Office...