https://www.taxtmi.com/caselaws?id=780802 ITAT dismissed Revenue's appeal and upheld the CIT(A)'s deletion of additions under s.69. The tribunal found that deposits were used to secure bank guarantees with SBI, UCO Bank and SBI Exim Bank, and records showed closures and renewals of FDRs (including a closure credit of Rs.1,99,12,379 and reissuance of Rs.1,90,00,000 on the same day), so the AO's addition was unreasonable. The tribunal also rejected Revenue's Rule 46A objection, holding no fresh evidence was improperly admitted. en-us Mon, 22 Sep 2025 00:00:00 +0530 Wed, 05 Nov 2025 13:05:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780802 ITAT dismissed Revenue's appeal and upheld the CIT(A)'s deletion of additions under s.69. The tribunal found that deposits were used to secure bank guarantees with SBI, UCO Bank and SBI Exim Bank, and records showed closures and renewals of FDRs (including a closure credit of Rs.1,99,12,379 and reissuance of Rs.1,90,00,000 on the same day), so the AO's addition was unreasonable. The tribunal also rejected Revenue's Rule 46A objection, holding no fresh evidence was improperly admitted. Case-Laws Income Tax Mon, 22 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780802