https://www.taxtmi.com/caselaws?id=778005 ITAT KOLKATA - AT allowed the appeal and set aside CIT(A)'s order upholding an addition under s.69A for cash deposits. The Tribunal found the disputed deposits (?50.00 lakhs and ?1.45 lakhs) were from opening balances consisting of marriage gifts received in the preceding year, so any addition, if at all, could only arise in the year of receipt. The AO was directed to delete the addition. en-us Wed, 15 Jan 2025 00:00:00 +0530 Mon, 08 Sep 2025 11:56:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778005 ITAT KOLKATA - AT allowed the appeal and set aside CIT(A)'s order upholding an addition under s.69A for cash deposits. The Tribunal found the disputed deposits (?50.00 lakhs and ?1.45 lakhs) were from opening balances consisting of marriage gifts received in the preceding year, so any addition, if at all, could only arise in the year of receipt. The AO was directed to delete the addition. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778005