https://www.taxtmi.com/caselaws?id=438988 The Appellate Tribunal ITAT Amritsar ruled in favor of the assessee, allowing the appeal against the addition of Rs.50,00,000/- made by the AO u/s 69 of the Income Tax Act for alleged cash payment for property purchase. The Tribunal found that the appellant had adequately demonstrated that the entire transaction amount was paid through banking channels, leading to the quashing of the addition. en-us Mon, 15 May 2023 00:00:00 +0530 Wed, 14 Jun 2023 09:29:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438988 The Appellate Tribunal ITAT Amritsar ruled in favor of the assessee, allowing the appeal against the addition of Rs.50,00,000/- made by the AO u/s 69 of the Income Tax Act for alleged cash payment for property purchase. The Tribunal found that the appellant had adequately demonstrated that the entire transaction amount was paid through banking channels, leading to the quashing of the addition. Case-Laws Income Tax Mon, 15 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438988