https://www.taxtmi.com/caselaws?id=764310 ITAT Chennai upheld CIT(A)'s order deleting additions made u/s 69A regarding unaccounted deposits. The tribunal found that AO made additions based solely on seized loose sheets without supporting evidence that amounts were invested by partners during the assessment year. Opening balances carried forward from previous years cannot be treated as current year income under section 69A. The tribunal ruled that deposits made by partners into firms do not fall under section 69A provisions, making the AO's additions invalid. en-us Fri, 13 Dec 2024 00:00:00 +0530 Wed, 08 Jan 2025 08:37:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764310 ITAT Chennai upheld CIT(A)'s order deleting additions made u/s 69A regarding unaccounted deposits. The tribunal found that AO made additions based solely on seized loose sheets without supporting evidence that amounts were invested by partners during the assessment year. Opening balances carried forward from previous years cannot be treated as current year income under section 69A. The tribunal ruled that deposits made by partners into firms do not fall under section 69A provisions, making the AO's additions invalid. Case-Laws Income Tax Fri, 13 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764310