ITAT Bangalore Accepts Cash Advances from Flower Buyers – Deletes ₹34.50 Lakh Addition

Kodiyalam Floriculture private Limited Vs ITO (ITAT Bangalore)

ITAT Bangalore Accepts Cash Advances from Flower Buyers – Deletes ₹34.50 Lakh Addition- No Enquiry, No Addition: ITAT Bangalore Quashes Cash Deposit Addition in Floriculture Case

Bangalore Tribunal examined whether cash deposits during demonetisation represented unexplained income u/s 69A or advances received from customers.

Assessee, engaged in leasing of agricultural land & floriculture (cultivation & sale of roses), filed ROI declaring ₹12,180 taxable income & ₹39.58 lakh agricultura

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