Mere wrong mention of section not fatal to addition

Shri Arif Vs ACIT (ITAT Bangalore) In this case the main contention of the learned A.R. is that the Assessing Officer (AO) is precluded from making addition under Section 68 of the Act with respect of the unexplained bank deposits. Unexplained bank deposits cannot be considered under Section 68 of the Act and it falls under Section 69A of the Act. However, mentioning a wrong section by the AO is not fatal. ITAT held that it has to see the substance and not the form and Accordingly, reject this ground of appeal of the assessee. Addition towards inflated sales during demonetisation  Now coming ...