Section 69A Addition Deleted as Cash Withdrawals Were from Disclosed Bank Accounts: ITAT Mumbai

DCIT Vs F A Construction (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai, disposed of three appeals filed by the Revenue against separate orders of the Commissioner of Income-tax (Appeals) [CIT(A)] for Assessment Years 2014–15 to 2016–17. As the issues involved were identical, the Tribunal passed a consolidated order, primarily examining the facts of Assessment Year 2014–15. The assessee, a partnership firm engaged in building and construction activities, filed its return declaring income, which was later assessed under Section 143(3). Subsequently, based on information re...