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ITAT directs AO to Re-Adjudicate disallowance of Demonetization Cash Deposits

Case Law Details

Case Name
ITO Vs  Shri Chatrapati Shivaji (ITAT Bangalore)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2017-18
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ITO Vs Shri Chatrapati Shivaji (ITAT Bangalore) Introduction: The Income Tax Appellate Tribunal (ITAT) Bangalore heard an appeal filed by the Income Tax Officer (ITO) against Shri Chatrapati Shivaji. The case pertained to the assessment year 2017-18 and involved the disallowance of a deduction claimed under section 80P(2)(a)(i) and an addition made under sections 68/69A for unexplained cash deposits during demonetization. Background: Shri Chatrapati Shivaji, a cooperative society, filed its return of income declaring Nil income after claiming a deduction under section 80P(2)(a)(i). However, th...
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Author Info

CA Sandeep Kanoi
Qualification: CA in Job / Business
Company: Taxguru Consultancy
Location: Mumbai, Maharashtra
Articles Published: 17,295

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