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ITAT Deletes ₹9.75 Cr Addition as Cash Deposits Were Explained Through Business Receipts
Case Law Details
- Case Name
- DCIT Vs Vaibhav Ginning & Spinning Mill Private Limited (ITAT Rajkot)
- 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 Rajkot
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DCIT Vs Vaibhav Ginning & Spinning Mill Private Limited (ITAT Rajkot)
ITAT Deletes Section 69A Addition Because Demonetization Cash Deposits Matched Audited Cash Book; Demonetization Cash Deposits Cannot Be Taxed as Unexplained When Business Pattern Is Consistent; Section 69A Addition Unsustainable Because AO Accepted Books but Questioned Cash Balance Without Evidence; Cash Withdrawals and Redeposits Cannot Be Treated as Unexplained Without Proof of Diversion.
The Income Tax Appellate Tribunal (ITAT), Rajkot, dismissed the Revenue’s appeal against the order of the Commis...
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