Snack Vendor Cash Deposits Verified; ITAT Deletes Addition as Source proved

Reena Vs ITO (ITAT Chandigarh) Income-tax Appellate Tribunal (ITAT), Chandigarh, delivered an order in the case of Reena Vs ITO for the Assessment Year 2017-18, allowing the assessee’s appeal and deleting a cash deposit addition of 21.09 Lacs. The appeal arose from a best judgment assessment made by the Assessing Officer (AO) under Section 144 of the Income-tax Act, 1961. The AO had treated the cash deposits and interest income as unexplained income after the assessee failed to respond to initial inquiries. In the first appeal, before the Commissioner of Income Tax (Appeals) [CIT(A)], the as...