https://www.taxtmi.com/caselaws?id=782958 The Tribunal held that the addition under s.69A on account of time deposits with a bank and the related interest was not sustainable without proper factual verification. It noted that the assessee's account had been classified as NPA and the fixed deposits were pledged as security for bank guarantees, with the bank not cooperating in providing details. The matter was remanded to the AO with directions to summon the bank, obtain all relevant information, and reassess the income. The AO was specifically directed to tax only the interest income on the FDs, not the principal pledged as security. The appeal was allowed for statistical purposes. en-us Thu, 04 Dec 2025 00:00:00 +0530 Sat, 06 Dec 2025 08:46:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782958 The Tribunal held that the addition under s.69A on account of time deposits with a bank and the related interest was not sustainable without proper factual verification. It noted that the assessee's account had been classified as NPA and the fixed deposits were pledged as security for bank guarantees, with the bank not cooperating in providing details. The matter was remanded to the AO with directions to summon the bank, obtain all relevant information, and reassess the income. The AO was specifically directed to tax only the interest income on the FDs, not the principal pledged as security. The appeal was allowed for statistical purposes. Case-Laws Income Tax Thu, 04 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782958