This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Demonetization Cash Addition Set Aside for Fresh Review of Cash Book: ITAT Hyderabad
Case Law Details
- Case Name
- Naresh Samala Vs ITO (ITAT Hyderabad)
- 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 Hyderabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Naresh Samala Vs ITO (ITAT Hyderabad)
ITAT Hyderabad: Demonetisation Cash Deposits—Matter Remanded; Opening Cash Balance to Be Accepted
The Hyderabad Bench of the ITAT set aside the NFAC order sustaining addition of ₹88.84 lakh as unexplained cash deposits under section 68 for AY 2017-18 in a demonetisation-related case. The assessee, running a restaurant and bar, claimed the deposits were from sales. The Tribunal observed that the Assessing Officer failed to establish whether deposits were from demonetised currency and also did not consider the opening cash balance available as on 08.11.2...
Author Info
