U/s 69A Addition Partly Sustained – Estimated Relief Granted Considering Household Savings

Advertisement Meghna Banga Vs DCIT (ITAT Delhi) The ITAT Delhi partly allowed the assessee’s appeal relating to addition u/s 69A for alleged unexplained cash investment of ₹19.94 lakh paid to Jindal Bullion Ltd based on seized digital data. The CIT(A) had already granted partial relief by accepting ₹9.54 lakh as explained from accumulated cash withdrawals from joint bank accounts of the assessee and her salaried husband, but sustained balance addition of ₹10.39 lakh. The Tribunal noted that the assessee was a housewife and her husband had substantial disclosed income, and that CIT(A...