Addition of ₹99.2L Cash Deposit due to non compliance of Notice to prove source of cash: ITAT Allows...

The ITAT (Income Tax Appellate Tribunal) has allowed "one final opportunity to an assessee for ₹4 lakh cash deposit due to non-compliance of notice to prove source of cash." The Assessing Officer had made an addition to income because the assessee failed to respond to notices regarding the source of a cash deposit. However, the tribunal, in the interest of natural justice, provided a last chance for the assessee to produce evidence. This decision highlights the court's balance between enforcing compliance and ensuring taxpayers are given adequate opportunity to present their case.