Cash deposit against repayment of cash by Kolkata based companies: ITAT upholds deletion of additions

DCIT Vs Baashyaam Constructions Pvt. Ltd. (ITAT Chennai)

Introduction: In a landmark ruling that reverberates through the corridors of tax jurisprudence, the Income Tax Appellate Tribunal (ITAT) in Chennai has rendered a decision that underscores the importance of evidence and due process in the adjudication of tax disputes. The case in point, DCIT Vs Baashyaam Constructions Pvt. Ltd., brings to the fore the complexities surrounding cash deposits during the demonetization period and the criticality of establishing a credible source for

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