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Eight Notices Ignored: Credit-Card Cash Payments Under Scrutiny: ITAT Imposes Cost But Grants One Final Chance
Case Law Details
- Case Name
- Hemraj Prabhudas Chandel Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Ahmedabad
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Hemraj Prabhudas Chandel Vs ITO (ITAT Ahmedabad)
Assessee filed return declaring Rs.3,11,410/-. Case was selected for limited scrutiny to verify credit-card payments & demonetisation-period cash deposits. No compliance was made before AO despite eight opportunities, leading to best-judgment assessment u/s 144. AO added Rs.11,73,620 as unexplained cash expenditure towards credit-card payments u/s 69C & Rs.3,12,500 as unexplained cash deposit. Before Addl. CIT(A), assessee again made no appearance; however, the first appellate authority deleted the addition relating to cash deposit but s...
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