https://www.taxtmi.com/caselaws?id=781922 The ITAT Kolkata dismissed the Revenue's appeal and upheld the order of CIT(A) on all grounds. For the cash deposits, the Tribunal accepted the CIT(A)'s factual finding that deposits were proportionate to turnover and represented cash sales, consistent with preceding and succeeding assessment years; the addition was rightly deleted. Regarding the Rs. 26 lakh investment in immovable property, the Tribunal agreed that the assessee had satisfactorily explained the source through banking channels and withdrawals from the proprietary concern, supported by bank statements and capital accounts. On the alleged Rule 46A violation, the Tribunal, following HC precedent, held no infirmity in CIT(A)'s reliance on the additional evidence. en-us Thu, 16 Oct 2025 00:00:00 +0530 Wed, 19 Nov 2025 18:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781922 The ITAT Kolkata dismissed the Revenue's appeal and upheld the order of CIT(A) on all grounds. For the cash deposits, the Tribunal accepted the CIT(A)'s factual finding that deposits were proportionate to turnover and represented cash sales, consistent with preceding and succeeding assessment years; the addition was rightly deleted. Regarding the Rs. 26 lakh investment in immovable property, the Tribunal agreed that the assessee had satisfactorily explained the source through banking channels and withdrawals from the proprietary concern, supported by bank statements and capital accounts. On the alleged Rule 46A violation, the Tribunal, following HC precedent, held no infirmity in CIT(A)'s reliance on the additional evidence. Case-Laws Income Tax Thu, 16 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781922