AO not justified in taking two views in respect of same transaction/bank deposits

Swami Shibrupananda Jayrambati Ramkrishna Saradamath & Mission Vs ITO (ITAT Kolkata)

Ld. AO had taken two views in respect of same transaction/bank deposits made by the assessee, one pre-demonetization period deposits, which he treated as income from profession of the assessee and 50% of such deposits treated as income from profession. On the other hand, deposits of Rs. 13,00,000/- made post demonetization treated as undisclosed income u/s. 69A r.w.s 115BBE of the Act.

Taking into cons

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