https://www.taxtmi.com/caselaws?id=773339 ITAT HC allowed the assessee-society's appeal for statistical purposes in a case involving reopening of assessment under section 147 for unexplained cash deposits from bank loans used for agricultural lending to members. The AO made additions without considering the society's explanation and supporting documents including bank statements, and denied section 80P deductions due to non-filing of return under section 139. CIT(A) sustained the addition citing failure to prove loan purpose. ITAT remanded the matter to AO for fresh verification with proper hearing opportunity. en-us Thu, 24 Apr 2025 00:00:00 +0530 Sat, 21 Jun 2025 08:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773339 ITAT HC allowed the assessee-society's appeal for statistical purposes in a case involving reopening of assessment under section 147 for unexplained cash deposits from bank loans used for agricultural lending to members. The AO made additions without considering the society's explanation and supporting documents including bank statements, and denied section 80P deductions due to non-filing of return under section 139. CIT(A) sustained the addition citing failure to prove loan purpose. ITAT remanded the matter to AO for fresh verification with proper hearing opportunity. Case-Laws Income Tax Thu, 24 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773339