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Cash Deposits for Digital Money Transfers Not Unexplained Income: ITAT Kolkata
Case Law Details
- Case Name
- Smt Sweety Agarwal Vs ITO (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Kolkata
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Smt Sweety Agarwal Vs ITO (ITAT Kolkata)
The ITAT Kolkata considered an appeal against the order of the Commissioner of Income Tax (Appeals), NFAC, for AY 2018-19. The principal issue was whether cash deposits of ₹86,98,551 in the assessee’s State Bank of India account could be treated as income.
The assessee was the proprietor of M/s Ekta Telecom and acted as a commission agent for Idea Mobile Commerce Services Ltd. and Aditya Birla Idea Payment Bank Ltd., which provided Direct Money Transfer (DMT) and Immediate Payment Service (IMPS) facilities through online application...
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