Summary
- The ITAT Amritsar has partly allowed Sukhwinder Singh's appeal, reducing the unexplained cash deposit addition from ₹21.71 lakh to ₹13.10 lakh for AY 2017-18.
- The assessment was completed ex parte under section 144 of the Income Tax Act, 1961, due to alleged non-compliance with notices under section 142(1).
- The Tribunal found that while some cash deposits were explained by prior withdrawals, others totaling ₹13.10 lakh were not satisfactorily justified.
- This ruling underscores the importance of substantiating cash balances and could impact future assessments involving unexplained deposits.
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