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No Income Tax Addition for Assessee Proving Source of Cash Deposits During Demonetization
Case Law Details
- Case Name
- DCIT Vs Bhanu Infrabuild Pvt Ltd (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
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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.
They questioned the absence of a similar pattern of significant cash deposits in the previous year.
The r...
