No Books, No Section 68: ITAT Deletes Entire Cash-Deposit Additions

H & F Games Pvt. Ltd. Vs DCIT (ITAT Bangalore)

Assessee company challenged CIT(A) order dated 20.06.2024 sustaining additions on cash deposits & disallowance of interest. Appeals were delayed; delay condoned by Tribunal applying the Supreme Court ruling in Collector, Land Acquisition v. Katiji.

Facts emerged from survey on 03.05.2017 & search on 28.08.2017 in the case of Shri D.S. Nandish. As recorded in statements u/s 131 & reaffirmed u/s 132(4), Nandish admitted that cash deposits in several entities’ bank accounts—including Assessee’s accounts—were

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