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ITAT Delhi Restricts Section 69A Addition to ₹10 Lakh on Liquor Sale Cash Deposits
Case Law Details
- Case Name
- ACIT Vs Kavinder (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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ACIT Vs Kavinder (ITAT Delhi)
Cash Deposits from Liquor Sales Largely Accepted; Only ₹10 Lakh Sustained on Ad-hoc Basis: ITAT Delhi Restricts Section 69A Addition
The Delhi Bench of the ITAT partly allowed the Revenue’s appeal for AY 2017-18 in the case of an assessee engaged in retail liquor business, by substantially reducing the addition made on account of cash deposits during the demonetisation period.
The Assessing Officer, in a best-judgment assessment, had treated entire cash deposits of ₹4.72 crore in three bank accounts as unexplained under section 69A. The CIT(A)/NFAC deleted t...
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