https://www.taxtmi.com/caselaws?id=445744 ITAT Hyderabad allowed the appeal of a 73-year-old assessee regarding unexplained cash deposits of Rs. 4 lakhs. The assessee initially surrendered the amount as income but later produced evidence including affidavits and bank withdrawal entries proving the deposit was repayment of a loan to a friend. The AO applied section 115BBE and CIT(A) rejected the explanation as afterthought. ITAT held that refusing to examine evidence from a senior citizen pensioner with no history of tax evasion constituted prejudice. Considering the assessee's advanced age, fading memory, and that total income was below threshold limit, ITAT directed deletion of the addition rather than remanding to avoid hardship to the elderly taxpayer. en-us Fri, 08 Sep 2023 00:00:00 +0530 Sat, 18 Nov 2023 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445744 ITAT Hyderabad allowed the appeal of a 73-year-old assessee regarding unexplained cash deposits of Rs. 4 lakhs. The assessee initially surrendered the amount as income but later produced evidence including affidavits and bank withdrawal entries proving the deposit was repayment of a loan to a friend. The AO applied section 115BBE and CIT(A) rejected the explanation as afterthought. ITAT held that refusing to examine evidence from a senior citizen pensioner with no history of tax evasion constituted prejudice. Considering the assessee's advanced age, fading memory, and that total income was below threshold limit, ITAT directed deletion of the addition rather than remanding to avoid hardship to the elderly taxpayer. Case-Laws Income Tax Fri, 08 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445744