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, stock valuation statements & bank statements that cash deposits were nothing but regula...