Demonetization Cash Credit Case Remanded for Reassessment

Birju Kumar Vs ITO (ITAT Kolkata)

Ex-Parte 144 Order & 115BBE Addition Set Aside- Demonetisation Cash Deposit Addition Remanded—ITAT Patna Gives Assessee One Final Chance

Assessee, engaged in jewellery & mobile business, filed ROI declaring ₹5,24,260. Case was selected under CASS. Due to non-compliance to statutory notices, AO completed ex-parte assessment u/s 144, treated cash deposits of ₹49,80,700 made during demonetisation as unexplained u/s 68, taxed it @ 60% u/s 115BBEPlease become a Premium member. If you are already a Premium member, login here to access the full content.