https://www.taxtmi.com/caselaws?id=764807 ITAT Ahmedabad ruled partially in favor of the assessee regarding unexplained money under Section 69A read with Section 115BBE. The AO had access to comprehensive documentation including bank statements from HDFC and SBI, fixed deposit summaries, investment details, and employment verification letters. The tribunal found that except for one unexplained entry of Rs. 63,133, all other credit and debit entries were adequately explained and verified. The tribunal held that doubting the genuineness of properly documented transactions without basis was unjustifiable by both the AO and DRP, ruling that additions under Section 69A were inappropriate for explained entries. en-us Thu, 16 Jan 2025 00:00:00 +0530 Sat, 18 Jan 2025 08:47:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764807 ITAT Ahmedabad ruled partially in favor of the assessee regarding unexplained money under Section 69A read with Section 115BBE. The AO had access to comprehensive documentation including bank statements from HDFC and SBI, fixed deposit summaries, investment details, and employment verification letters. The tribunal found that except for one unexplained entry of Rs. 63,133, all other credit and debit entries were adequately explained and verified. The tribunal held that doubting the genuineness of properly documented transactions without basis was unjustifiable by both the AO and DRP, ruling that additions under Section 69A were inappropriate for explained entries. Case-Laws Income Tax Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764807