Section 69A Addition of ₹1.86 Cr Set Aside for Lack of Verification of College Fee Collections

Town Educational Society Vs ITO (ITAT Varanasi) Fee Collections of Govt-Aided College Need Verification: ITAT Sets Aside 69A Addition of ₹1.86 Cr Ex-parte 69A Addition on Educational Society Quashed—Matter Remanded for De-novo Assessment The Varanasi Circuit Bench of the ITAT, in Town Educational Society vs ITO, Ballia (ITA No. 141/VNS/2024, AY 2016-17), set aside the ex-parte addition of ₹1.86 crore made u/s 69A on account of cash deposits in a bank account and restored the matter to the AO for de-novo assessment. The AO reopened the assessment based on information of cash deposits aggr...