https://www.taxtmi.com/caselaws?id=760174 ITAT Kolkata ruled in favor of the assessee on two issues. Regarding addition under section 69A for unexplained money, the tribunal found revenue's rejection of cash deposits arbitrary without proper reasoning. The assessee operated a business selling pulses, wheat, gram, and flour requiring cash transactions. Since cash was recorded in books and source explained as sale proceeds, section 69A was inapplicable. On TDS non-payment, despite AO's disbelief due to missing challan copy, the tribunal accepted assessee's explanation with BSR code details and verified challan showing deposit. Both additions were deleted. en-us Mon, 07 Oct 2024 00:00:00 +0530 Thu, 17 Oct 2024 09:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760174 ITAT Kolkata ruled in favor of the assessee on two issues. Regarding addition under section 69A for unexplained money, the tribunal found revenue's rejection of cash deposits arbitrary without proper reasoning. The assessee operated a business selling pulses, wheat, gram, and flour requiring cash transactions. Since cash was recorded in books and source explained as sale proceeds, section 69A was inapplicable. On TDS non-payment, despite AO's disbelief due to missing challan copy, the tribunal accepted assessee's explanation with BSR code details and verified challan showing deposit. Both additions were deleted. Case-Laws Income Tax Mon, 07 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760174