₹4 Cr Addition: ITAT directs Verification of Bank Accounts & Cash Deposits

Amitsingh Vrajrajsingh Bhadoriya Vs ITO (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT) Ahmedabad allowed the appeals filed by Amitsingh Vrajrajsingh Bhadoriya against the order of the Commissioner of Income Tax (Appeals) [CIT(A)]/National Faceless Appeal Centre, Delhi, which had upheld an addition of ₹4,00,82,154 made by the Assessing Officer (AO) under Section 69A of the Income Tax Act for the Assessment Year 2019-20. This addition was based on cash deposits in a specific bank account, No. 916010042512876, information for which was reportedly sourced from the Operation Insight of...