https://www.taxtmi.com/caselaws?id=462589 The Income Tax Appellate Tribunal allowed the Revenue's appeal against the CIT(A)'s deletion of Rs. 8,39,78,849/- addition for unexplained bank deposits. The AO had treated the assessee as a paper company and added unexplained deposits as income after finding inadequate evidence regarding source and genuineness. The CIT(A) deleted the addition relying on assessee's submissions previously rejected by the AO. The Tribunal found the CIT(A)'s order unsustainable due to lack of independent inquiry, contradictory findings with the AO, and failure to comply with section 250(4) requirements. The matter was remanded to the AO for fresh consideration with proper opportunity to the assessee. en-us Wed, 14 Dec 2022 00:00:00 +0530 Wed, 02 Jul 2025 10:09:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462589 The Income Tax Appellate Tribunal allowed the Revenue's appeal against the CIT(A)'s deletion of Rs. 8,39,78,849/- addition for unexplained bank deposits. The AO had treated the assessee as a paper company and added unexplained deposits as income after finding inadequate evidence regarding source and genuineness. The CIT(A) deleted the addition relying on assessee's submissions previously rejected by the AO. The Tribunal found the CIT(A)'s order unsustainable due to lack of independent inquiry, contradictory findings with the AO, and failure to comply with section 250(4) requirements. The matter was remanded to the AO for fresh consideration with proper opportunity to the assessee. Case-Laws Income Tax Wed, 14 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462589