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Income Tax

ITAT Deletes Demonetisation Cash Deposit Addition as Books of Account Were Accepted

Case Law Details

Case Name
Indowestern Commodities And Energy Trade Private Limited Vs ITO (ITAT Delhi)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2017-18
Advertisement Indowestern Commodities And Energy Trade Private Limited Vs ITO (ITAT Delhi) Section 68 Addition Quashed Because Cash Deposits Were Linked to Recorded Jewellery Sales; ITAT Rules Accepted Trading Results Bar Separate Section 68 Addition on Cash Sales; Demonetisation Cash Deposits Explained Through Business Records, Says ITAT Delhi; Share Application Money Addition Deleted Because Companies Act Violations Alone Do Not Attract Section 68. The Income Tax Appellate Tribunal (ITAT), Delhi, allowed the assessee’s appeal against the order of the Commissioner of Income Tax (Appe...
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Author Info

CA Sandeep Kanoi
Qualification: CA in Job / Business
Company: Taxguru Consultancy
Location: Mumbai, Maharashtra
Articles Published: 18,551

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