ITAT Deletes Additions on Cash Deposits and Property Investment After Assessee Successfully Explains Source of Funds:
The ITAT Delhi observed that the AO failed to appreciate the evidence proving that the deposits originated from cash received from the assessee's children, her own bank withdrawals and proceeds of matured fixed deposits.
ITAT Deleted Addition of Rs 18.74 lakh and of Rs 31.78 lakh
Saima
Jul 10, 2026Premium
ITAT Deletes Additions on Cash Deposits and Property Investment After Assessee Successfully Explains Source of Funds
The ITAT Delhi observed that the AO failed to appreciate the evidence proving that the deposits originated from cash received from the assessee's children, her own bank withdrawals and proceeds of matured fixed deposits.
Also Read
ITAT Holds Section 263 Assessment Cannot Survive After Revision Order Is QuashedITAT Allows Section 80P Deduction on Interest From Co-operative BanksITAT Deletes Demonetisation Addition on Marriage Gift and Household Cash ExplanationITAT Deletes Rs.1.36 Crore Section 69A Addition Against Customs House Agent
About Author
Saima
Content Writer
Saima is a Law graduate with a passion for research and content writing. She writes for Finance, Taxation and Legal Updates at Studycafe.in, simplifying complex legal decisions by the ITAT, High Court, AAR and GSTAT into uncomplicated and clear explanations.
Saima is a Law graduate with a passion for research and content writing. She writes for Finance, Taxation and Legal Updates at Studycafe.in, simplifying complex legal decisions by the ITAT, High Court, AAR and GSTAT into uncomplicated and clear explanations.
StudyCafe
Delhi, Delhi, India
147My Recent Articles
- ITAT Holds Cash Loan Cannot Be Added as Taxable Income Once Revenue Treats it as Loan Premium
- ITAT Denies Deduction on Donation to Kisan Party of India As Claim Lacked CredibilityPremium
- ITAT Denies Section 80GGC Deduction on Political Donation Found to be Accommodation EntryPremium
- ITAT Holds Business Loss from Genuine Share Transactions Cannot Be Taxed as Unexplained Cash Credit Under Section 68Premium
- ITAT Upholds Deletion of Rs 5.61 Crore Addition as AO Failed to Independently Verify Alleged Accommodation EntriesPremium
Up Next
Loading suggestions…
Recent Posts
All Posts
Tags
Recent Posts
All Posts