https://www.taxtmi.com/caselaws?id=448344 The ITAT Hyderabad ruled on unexplained money additions under section 69A. The tribunal deleted a Rs. 10 lakh addition for cash gift from assessee's wife, accepting her confirmation and income return as sufficient proof since spouses fall under exempt relatives category. However, it upheld Rs. 2.40 lakh addition for alleged gift from deceased father due to lack of supporting documentation or income return. The tribunal also deleted Rs. 5 lakh addition for cash withdrawal from partnership firm, finding adequate proof through firm's confirmation and financial records. Addition for undocumented opening cash balance was sustained. The appeal was partly allowed. en-us Wed, 15 Nov 2023 00:00:00 +0530 Wed, 17 Jan 2024 08:43:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448344 The ITAT Hyderabad ruled on unexplained money additions under section 69A. The tribunal deleted a Rs. 10 lakh addition for cash gift from assessee's wife, accepting her confirmation and income return as sufficient proof since spouses fall under exempt relatives category. However, it upheld Rs. 2.40 lakh addition for alleged gift from deceased father due to lack of supporting documentation or income return. The tribunal also deleted Rs. 5 lakh addition for cash withdrawal from partnership firm, finding adequate proof through firm's confirmation and financial records. Addition for undocumented opening cash balance was sustained. The appeal was partly allowed. Case-Laws Income Tax Wed, 15 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448344