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ITAT Overturns Section 69A and 115BBE Addition on Petrol Pump Deposits
Case Law Details
- Case Name
- Harishchandrasinh Pratapsinh Parmar 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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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 n...
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