https://www.taxtmi.com/caselaws?id=769938 ITAT Chennai partially allowed the appeal regarding unexplained cash deposits of Rs. 33.20 lakhs. The tribunal corrected calculation errors in the assessment, directing AO to restrict addition to Rs. 15 lakhs instead of Rs. 20 lakhs, providing additional relief of Rs. 5 lakhs. The tribunal also ruled that Section 115BBE could not be invoked as transactions occurred in FY 2016-17, before the provision's effective date of April 1, 2017, directing recomputation without applying this section. en-us Wed, 30 Apr 2025 00:00:00 +0530 Sat, 03 May 2025 08:34:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769938 ITAT Chennai partially allowed the appeal regarding unexplained cash deposits of Rs. 33.20 lakhs. The tribunal corrected calculation errors in the assessment, directing AO to restrict addition to Rs. 15 lakhs instead of Rs. 20 lakhs, providing additional relief of Rs. 5 lakhs. The tribunal also ruled that Section 115BBE could not be invoked as transactions occurred in FY 2016-17, before the provision's effective date of April 1, 2017, directing recomputation without applying this section. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769938