ITAT Overturns Section 69A and 115BBE Addition on Petrol Pump Deposits

Harishchandrasinh Pratapsinh Parmar Vs ITO (ITAT Ahmedabad)

Petrol pump cash sales explained: 69A & 115BBE addition deleted despite NFAC rejection of Rule 46A

ITAT Ahmedabad allowed assessee’s appeal & deleted addition of ₹2.07 crore made u/s 69A r/w 115BBE on account of cash deposits during demonetisation. Assessee, a petrol pump operator, demonstrated through quantitative stock records of petrol & diesel, purchase invoices from oil companies, VAT-wise sales registers, daily cash sales, stoc

Please become a Premium member. If you are already a Premium member, login here to access the full content.