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Case Law Details

Case Name : Bimal Kunjbihari Gorai Vs ITO (ITAT Ahmedabad)
Related Assessment Year : 2017-18
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Bimal Kunjbihari Gorai Vs ITO (ITAT Ahmedabad)

Demonetisation cash sales disbelieved: Jewellery trader’s books rejected, 68 addition & GP estimation upheld

ITAT Ahmedabad dismissed assessee’s appeal & upheld major additions arising from cash deposits during demonetisation. Tribunal confirmed rejection of books u/s 145(3) noting absence of quantitative stock register, unverifiable stock valuation, abnormal spurt in cash sales to numerous customers just below ₹2 lakh without iden

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CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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