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₹8.84 Cr Addition Deleted as ATM Cash Mistakenly Linked to Employee’s PAN
Case Law Details
- Case Name
- ITO Vs Ajay Singh (ITAT Agra)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
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ITO Vs Ajay Singh (ITAT Agra)
ATM Cash, Not Assessee’s Cash – ITAT Agra Upholds Deletion of ₹8.84 Cr Addition Made on Bank Error
Revenue challenged CIT(A)’s order deleting ₹8.84 crore added u/s 69A, which AO treated as unexplained money based on large cash transactions in Assessee’s bank-linked accounts. AO found cash deposits & withdrawals of ₹8.81 crore from Punjab & Sind Bank accounts & , in the absence of a return or explanation, taxed the same as unexplained money u/s 69A r.w.s. 115BBE.
Before CIT(A), Assessee produced proof showing he was an employee of ISS SDB ...
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