ASST COMMISSIONER OF INCOME TAX, BIKANER vs. MUKESH SHAH, SRIGANGANAGAR
In the result, the appeal of the revenue is dismissed
ITA 399/JODH/2023[2017-18]Status: DisposedITAT Jodhpur08 Jan 2025AY 2017-18
Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)
Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 24
section 69A cannot be invoked. The reasoning given by the AO and Ld. CIT (A) is vague and based on surmise as to what a prudent person should have done. Once assessee has explained that being of senior citizen they have maintained such liquidity of cash out of their own disclosed income with them for certain contingencies, then without
