Commission Agent’s Cash ₹3.94 Crore Cash Deposits During Demonetisation Sent Back for Verification: ITAT Delhi

Manoj Kumar Vs ITO (ITAT Delhi) Commission Agent’s Cash Flow Needs Verification- ₹3.94 Cr Cash Deposit Addition Remanded: ITAT Delhi Gives Assessee One More Chance Manoj Kumar, engaged in business of mobile recharge coupons, filed appeal against NFAC order dated 03.11.2022 arising from assessment u/s 143(3) for AY 2017-18. AO noted cash deposits of ₹3,94,54,700 in Assessee’s Yes Bank & ICICI Bank accounts during demonetisation period. Assessee explained that he worked on commission basis for telecom distributors (Ezdhan, Vishesh Infosystem), collecting cash from local distributors ...