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The brand new Ahmedabad Workbench of income Tax Appellate Tribunal ( ITAT ) brought the brand new Evaluating Administrator (AO) to take on financial withdrawals when you’re reassessing the fresh unexplained cash deposits totaling Rs. 3.13 crore. Such issues, that isn’t you can and then make any addition on account of the massive cash deposit. The fresh Delhi Counter of your own Income tax Appellate Tribunal (ITAT) kept the fresh addition produced on account of cash placed regarding the family savings because of incapacity to describe the reason. While the CIT(A) did not make up such things, the fresh tribunal chose to remand the way it is to possess reconsideration, allowing the fresh assessee the opportunity to expose their instance.
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