This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
No Double Taxation: ITAT Deletes Section 68 Addition on Cash Sales in Dairy Business
Case Law Details
- Case Name
- Dairy India Pvt. Ltd. Vs ACIT (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
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Dairy India Pvt. Ltd. Vs ACIT (ITAT Delhi)
No Double Taxation – Cash Sales Already Recorded – Tribunal Quashes Addition u/s 68 in Dairy Business Case
Assessee, engaged in manufacture & processing of milk foods, challenged order of CIT(A) confirming partial addition on account of cash deposits during demonetization.
AO noted that Assessee deposited Rs.4.78 crore in old currency during 08.11.2016–30.12.2016. Observing discrepancies in month-wise sales, lack of party-wise details & alleged sudden surge in cash sales, AO treated entire Rs.4.78 crore as unexplained u/s 68.
In ap...
Author Info
