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ITAT Confirms Section 68 Additions for Unexplained Cash During Demonetisation
Case Law Details
- Case Name
- Bimal Kunjbihari Gorai Vs ITO (ITAT Ahmedabad)
- 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 Ahmedabad
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Bimal Kunjbihari Gorai Vs ITO (ITAT Ahmedabad)
Demonetisation cash sales disbelieved: Jewellery trader’s books rejected, 68 addition & GP estimation upheld
ITAT Ahmedabad dismissed assessee’s appeal & upheld major additions arising from cash deposits during demonetisation. Tribunal confirmed rejection of books u/s 145(3) noting absence of quantitative stock register, unverifiable stock valuation, abnormal spurt in cash sales to numerous customers just below ₹2 lakh without identity details, & mismatch in GP. It upheld addition of ₹59.90 lakh u/s 68 treating...
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