Addition for Cash Balance difference not sustainable unless corroborated by tangible materials

Hasmukhrai Amrutlal Jobanputra Vs ITO (ITAT Rajkot)

This detailed analysis aims to provide insights into the legal intricacies of the case, emphasizing the need for a robust assessment process, reliance on verified financial statements, and the alignment of penalties with sustained quantum additions.

Admittedly, there was the difference in the amount of cash balance shown in the cash book viz a viz audited financial statement as on 31 March 2011 amounting to ₹ 3,12,325.00 which was treat

Please become a Premium member. If you are already a Premium member, login here to access the full content.