₹8.84 Cr Addition Deleted as ATM Cash Mistakenly Linked to Employee’s PAN

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 ...