Case Law Details
Case Name : Nawal Kishore Soni Vs ACIT (ITAT Jaipur)
Appeal Number : ITA No. 1256, 1257, & 1258/JP/2019
Date of Judgement/Order : 15/09/2020
Related Assessment Year : 2015-16 to 2017-18
Courts :
All ITAT ITAT Jaipur
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Nawal Kishore Soni Vs ACIT (ITAT Jaipur)
It is evident from entries found in cash book of Ram Kumar Soni and from statement recorded from assessee in course of survey that assessee purchased gold in period of demonetization which was obviously for sale to persons
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UNDER SAME CIRCUMSTANCES IN FY.2022-23, EVEN IF ONLY GROSS PROFIT IS TAXED ON DECLARED SALES. BUT WHETHER DEEMED PURCHASES CO WILL BE TRATED AS UNEXPLAINED EXPENDITURE?