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Demonetisation Deposits Already in Turnover – Double Taxation Invalid
Case Law Details
- Case Name
- Anand Mulky Vs ITO (ITAT Bangalore)
- 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 Bangalore
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Anand Mulky Vs ITO (ITAT Bangalore)
Turnover Accepted, Receipts Cannot Be Taxed Again– Demonetisation Deposits from Sundry Debtors -Double Taxation Not Permitted- 68 Addition Struck Down
Bangalore dealt with addition of cash deposits made during demonetisation. Assessee, engaged in retail trading of Samsung mobile phones & SIM cards, filed his return for AY 2017-18 declaring income of ₹18.46 lakh. During scrutiny, AO noticed cash deposits of ₹8,89,878 in specified bank notes on 10.11.2016 & 15.11.2016. Out of this, ₹2,26,255 was accepted as explained opening ba...
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