https://www.taxtmi.com/caselaws?id=771762 ITAT Ahmedabad upheld CIT(A)'s deletion of additions totaling Rs. 99,00,000 under section 69A for unexplained money. For Rs. 90,00,000 addition, assessee denied transaction and provided bank statements while AO failed to furnish alleged information or conduct independent inquiry. Remand report lacked substantiation and no tangible evidence supported the addition. For Rs. 9,00,000 addition, loan repayment was evidenced through ledger accounts and bank statements, with source being advance from property sale verified in previous assessment year. AO could not refute documentary evidence in original or remand proceedings. en-us Fri, 09 May 2025 00:00:00 +0530 Thu, 29 May 2025 12:46:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771762 ITAT Ahmedabad upheld CIT(A)'s deletion of additions totaling Rs. 99,00,000 under section 69A for unexplained money. For Rs. 90,00,000 addition, assessee denied transaction and provided bank statements while AO failed to furnish alleged information or conduct independent inquiry. Remand report lacked substantiation and no tangible evidence supported the addition. For Rs. 9,00,000 addition, loan repayment was evidenced through ledger accounts and bank statements, with source being advance from property sale verified in previous assessment year. AO could not refute documentary evidence in original or remand proceedings. Case-Laws Income Tax Fri, 09 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771762