Case Law Details
Case Name : ITO Vs Hari Krishan Gupta (ITAT Chandigarh)
Related Assessment Year : 2017-18
Courts :
All ITAT ITAT Chandigarh
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ITO Vs Hari Krishan Gupta (ITAT Chandigarh)
Cash Deposits During Demonetisation Accepted as Business Receipts – ITAT Upholds Deletion of ₹1.11 Crore Addition-Festival Sales, Not Black Money – ITAT Rejects “Human Probability” Theory, Cash Deposits Fully Accepted!
Assessee, a retail trader in crockery & electronics, deposited ₹1,11,67,000 in cash during demonetisation. AO treated the entire amount as unexplained u/s 68, applying the “human probability” theory, stating no prudent person would ho
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