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No Proof, No Relief – Cash Deposits Unexplained: ITAT Upholds Addition
Case Law Details
- Case Name
- Sucram Pharmaceuticals Private Limited Vs ITO (ITAT Chennai)
- 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 Chennai
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Sucram Pharmaceuticals Private Limited Vs ITO (ITAT Chennai)
No Proof, No Relief -Debtors Deny, Scrap Sale Unsupported- Unsubstantiated Cash Deposits Bite Back ITAT Chennai Sustains Additions as Unexplained Money
Chennai ITAT upheld additions made u/s 69 treating certain cash deposits as unexplained. Assessee had claimed that cash deposits of ₹23.57 lakh were recoveries from sundry debtors & ₹1.15 lakh represented proceeds from scrap sales.
AO observed that while Assessee furnished a list of debtors, it failed to provide their PAN details or confirmations. Notices issued u/s 133(6)...
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