https://www.taxtmi.com/caselaws?id=755278 The ITAT Bangalore allowed the appeal, ruling in favor of the assessee. The Tribunal determined that the AO exceeded jurisdiction by not adhering to CBDT Instruction No.3 of 2017, which exempts individuals without business income from further verification for cash deposits up to Rs. 2.5 lakhs. The Tribunal emphasized the binding nature of CBDT guidelines and concluded that no addition could be made under these circumstances. en-us Thu, 20 Jun 2024 00:00:00 +0530 Tue, 09 Jul 2024 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755278 The ITAT Bangalore allowed the appeal, ruling in favor of the assessee. The Tribunal determined that the AO exceeded jurisdiction by not adhering to CBDT Instruction No.3 of 2017, which exempts individuals without business income from further verification for cash deposits up to Rs. 2.5 lakhs. The Tribunal emphasized the binding nature of CBDT guidelines and concluded that no addition could be made under these circumstances. Case-Laws Income Tax Thu, 20 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755278