https://www.taxtmi.com/caselaws?id=751308 The ITAT Ahmedabad allowed the assessee's appeal against an addition under section 69A made in an exparte assessment order. The AO had added unexplained cash deposits, claiming scrap sales vouchers were fabricated as they were in similar handwriting and not correlated with bank statements. However, the tribunal noted that for assessment year 2017-18, the AO had accepted the assessee's explanation for similar deposits and passed a nil demand order. The assessee had offered 8.35% profit on sales turnover, exceeding the 8% prescribed under section 44AD. The tribunal deleted the addition, ruling in favor of the assessee. en-us Thu, 28 Mar 2024 00:00:00 +0530 Sat, 13 Apr 2024 09:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751308 The ITAT Ahmedabad allowed the assessee's appeal against an addition under section 69A made in an exparte assessment order. The AO had added unexplained cash deposits, claiming scrap sales vouchers were fabricated as they were in similar handwriting and not correlated with bank statements. However, the tribunal noted that for assessment year 2017-18, the AO had accepted the assessee's explanation for similar deposits and passed a nil demand order. The assessee had offered 8.35% profit on sales turnover, exceeding the 8% prescribed under section 44AD. The tribunal deleted the addition, ruling in favor of the assessee. Case-Laws Income Tax Thu, 28 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751308