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ITAT Guwahati Deletes ₹1.75 Cr Cash Deposit Addition & Quashes 263 Revision
Case Law Details
- Case Name
- Likha Saaya Vs ITO (ITAT Gauhati)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010-11
- Courts
- All ITAT, ITAT Guwahati
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Likha Saaya Vs ITO (ITAT Gauhati)
ITAT Guwahati Deletes ₹1.75 Cr Cash Deposit Addition & Quashes 263 Revision – Redeposit of Own Withdrawals Accepted, Revision During Pending Appeal Held Invalid
Assessee, a Scheduled Tribe member of Arunachal Pradesh, was engaged in transport contracts with the State Government & claimed exemption u/s 10(26). For AY 2010–11, he reported gross receipts of ₹13.44 crore & offered 10% as income, which was accepted as exempt. However, AO noticed cash deposits of ₹1.75 crore in Vijaya Bank & ₹18 lakh in Axis Bank, t...
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