https://www.taxtmi.com/highlights?id=89185 ITAT remanded the case to AO for further verification on two key issues: (1) the genuineness and effective date of a key man insurance policy assignment, requiring LIC confirmation of the assignment's validity and documentation; and (2) unexplained cash deposits of Rs. 30 lakhs, directing AO to scrutinize the assessee's claim of cash sourcing by examining withdrawal patterns, household expenses, and marriage-related expenditures. The tribunal allowed grounds 2 and 3 of the appeal for statistical purposes, mandating a comprehensive factual assessment by the AO with opportunity for the assessee to provide supplementary documentary evidence supporting the claims. en-us Sat, 07 Jun 2025 08:32:51 +0530 Sat, 07 Jun 2025 08:32:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=89185 ITAT remanded the case to AO for further verification on two key issues: (1) the genuineness and effective date of a key man insurance policy assignment, requiring LIC confirmation of the assignment's validity and documentation; and (2) unexplained cash deposits of Rs. 30 lakhs, directing AO to scrutinize the assessee's claim of cash sourcing by examining withdrawal patterns, household expenses, and marriage-related expenditures. The tribunal allowed grounds 2 and 3 of the appeal for statistical purposes, mandating a comprehensive factual assessment by the AO with opportunity for the assessee to provide supplementary documentary evidence supporting the claims. Highlights Income Tax Sat, 07 Jun 2025 08:32:51 +0530 https://www.taxtmi.com/highlights?id=89185