No Income Tax Addition for Assessee Proving Source of Cash Deposits During Demonetization

DCIT Vs Bhanu Infrabuild Pvt Ltd (ITAT Delhi)

Introduction: The case of DCIT Vs Bhanu Infrabuild Pvt Ltd before the ITAT Delhi revolves around an income tax dispute for the assessment year 2017-18. The appeal challenges the order of CIT(A)-31, New Delhi, dated 06.07.2022.

1. Grounds Raised by the Revenue

• The revenue raised several key questions, including the assessment of impounded documents that revealed significant cash-in-hand for M/s Bhanu Infrabuild Private Limited as of 08.11.2016.

Please become a Premium member. If you are already a Premium member, login here to access the full content.