This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Additions of ₹1.46 Cr demonetization cash deposits and derivative losses were remanded for fresh adjudication
Case Law Details
- Case Name
- APR Jewellers (P) Ltd Vs ITO (ITAT Hyderabad)
- 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 Hyderabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
APR Jewellers (P) Ltd Vs ITO (ITAT Hyderabad)
Conclusion: Additions made on account of cash deposits during the demonetization period and disallowance of loss on the derivative transactions, were remanded for fresh adjudication after the verification of sales records and transaction nature.
Held: Assessee was engaged in retail trade of gold bars and jewellery, filed its return declaring income of ₹1,78,860/-. The case was selected for scrutiny on issues of cash deposits during demonetization, loans & advances, and computation of income. AO found undisclosed cash deposits...
Author Info
