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Cash book and flow chart rejected with out bringing any new evidence: ITAT deleted addition
Case Law Details
- Case Name
- Kamlesh Kampani Vs ITO (ITAT Delhi)
- 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 Delhi
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Kamlesh Kampani Vs ITO (ITAT Delhi)
In the case abovementioned ITAT Delhi deleted addition after considering that the same was made by rejecting cash book and cash flow chart without bringing any new material on record.
Assessee was engaged in the business of trading of cloth/fabrics/textiles who his return for AY 2017-18 declaring total income of Rs. 4,30,970/-. On perusal of the ITR and bank statement of the assessee, the AO observed the assessee had made cash deposits amounting to Rs. 44,50,000/- in his bank account maintained with Axis bank Ltd during demonetization period (09/11/2016 to...
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