https://www.taxtmi.com/caselaws?id=429987 The ITAT ruled in favor of the assessee, directing the AO to delete the additions made under section 69 for both assessment years. The ITAT emphasized that the source of money used for fixed deposits should be taxed in the year the deposits were created, not when they matured. The decision highlighted the importance of correctly applying relevant sections of the Income Tax Act. en-us Fri, 07 Oct 2022 00:00:00 +0530 Wed, 09 Nov 2022 08:01:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429987 The ITAT ruled in favor of the assessee, directing the AO to delete the additions made under section 69 for both assessment years. The ITAT emphasized that the source of money used for fixed deposits should be taxed in the year the deposits were created, not when they matured. The decision highlighted the importance of correctly applying relevant sections of the Income Tax Act. Case-Laws Income Tax Fri, 07 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429987