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Demonetization Cash Credit Case Remanded for Reassessment
Case Law Details
- Case Name
- Birju Kumar Vs ITO (ITAT Kolkata)
- 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 Kolkata
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Birju Kumar Vs ITO (ITAT Kolkata)
Ex-Parte 144 Order & 115BBE Addition Set Aside- Demonetisation Cash Deposit Addition Remanded—ITAT Patna Gives Assessee One Final Chance
Assessee, engaged in jewellery & mobile business, filed ROI declaring ₹5,24,260. Case was selected under CASS. Due to non-compliance to statutory notices, AO completed ex-parte assessment u/s 144, treated cash deposits of ₹49,80,700 made during demonetisation as unexplained u/s 68, taxed it @ 60% u/s 115BBE & assessed income at ₹55,04,960.
Before CIT(A), despite four hearing notices, Assessee failed to fur...
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