Matter was remanded back with respect to addition of Rs. 21.98 Lakhs as Unexplained Deposit u/s 69A

Rakeshkumar Shamalbhai Sharma Vs ITO (ITAT Ahmedabad) Conclusion: Matter regarding addition of Rs. 21.98 Lakhs as an unexplained deposit under section 69A was remanded back to the file of AO as assessee had not given the explanation as to why assessee did not appear before AO and file the details of source of the deposits within the stipulated time. Held: Assessee filed his return for AY 2012-13 showing an income of Rs. 1,60,050/-. After processing the return under section 143(1), an e-notice under section 148 was issued. AO noticed a cash deposit of Rs. 21,98,124/- in the bank account and obs...