Wrong PAN, Wrong Addition: ITAT Deletes ₹2.35 Crore Addition

Anathi Hanumegowda Vijay Kumar Vs ITO (ITAT Bangalore) Wrong PAN, Wrong Addition: ITAT Deletes ₹2.35 Crore Addition Made on Area Manager for Company’s Bank Account Transactions The Bangalore ITAT granted relief to an employee of Manappuram Finance Ltd. after finding that cash deposits of ₹2.35 crore were wrongly attributed to him merely because the bank had reported his PAN in the Statement of Financial Transactions (SFT), even though the bank account belonged to the company. The assessee was treated as a non-filer and reassessment proceedings were initiated based on information that ₹...