ITAT Hyderabad Orders Review of Jewellers’ Demonetization Cash Deposits & Sales

Bollam Sampath Kumar Jewellers (P) Ltd Vs ACIT (ITAT Hyderabad)

Introduction: The Income Tax Appellate Tribunal (ITAT) Hyderabad’s decision in the case of “Bollam Sampath Kumar Jewellers (P) Ltd Vs ACIT” marks a pivotal moment in the scrutiny of unexplained cash deposits during the demonetization period in India. The case, relating to the assessment year 2017-18, delves into the complexities surrounding the treatment of substantial cash deposits made by the assessee, a private limited company engaged in the jewellery b

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