This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Karnataka HC Dismisses Revenue Appeal on Abnormal Cash Sales During Demonetization
Case Law Details
- Case Name
- PCIT Vs Aura Jewels (Karnataka High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All High Courts, Karnataka High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
PCIT Vs Aura Jewels (Karnataka High Court)
Karnataka High Court Upholds ITAT Order on Demonetisation-Day Cash Sales
The Karnataka High Court has dismissed an appeal filed by the Principal Commissioner of Income Tax (PCIT), thereby upholding the Income Tax Appellate Tribunal (ITAT) order in the case of PCIT Vs Aura Jewels. The controversy centered on an addition of ₹6.61 crore made by the Assessing Officer (AO) under Section 68 of the Income Tax Act, 1961, following a surge in cash sales on November 8, 2016, the day the demonetisation of high-value currency notes was announced.
The Assessee, ...
Author Info
