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Once Books Accepted, Cash Deposits Can’t Be Doubted: ITAT Jabalpur
Case Law Details
- Case Name
- Punjab House Vs ITO (ITAT Jabalpur)
- 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 Jabalpur
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Punjab House Vs ITO (ITAT Jabalpur)
Cash deposits during demonetization held fully explained – AO erred in treating recorded cash as unexplained- Once books accepted, cash deposits can’t be doubted – ITAT Jabalpur
In a detailed ruling, the Jabalpur Bench of the ITAT deleted additions made on account of alleged unexplained cash deposits during the demonetisation period, holding that once the books of account were audited & accepted by the AO, there was no legal justification for invoking Section 69A merely on suspicion or for want of confirmations from debtors.
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