Entire Cash Turnover Can’t Be Taxed as Income: ITAT Rajkot

Kanaiyalal Hemendra Vyas Sudhrai Colony Vs ITO (ITAT Rajkot) Entire Cash Turnover Can’t Be Taxed as Income: Rajkot ITAT Sets Aside ₹83.72 Lakh 69B Addition & Orders Fresh Examination Rajkot ITAT, Rajkot Bench, in Kanaiyalal Hemendra Vyas Vs ITO (ITA Nos.306 & 307/RJT/2023; AYs 2010-11 & 2011-12; order dated 18-12-2025), set aside the additions of ₹83,72,533 made u/s 69B on account of cash deposits in bank accounts and remanded the matters to the AO for fresh adjudication on merits. The assessee, engaged in trading of agricultural commodities (onion, wheat, garlic, etc.), had ...