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Partial Rejection of Books Held Invalid in Demonetisation Cash Deposit Case
Case Law Details
- Case Name
- Divay Mohindru Vs ITO (ITAT Amritsar)
- 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 Amritsar
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Divay Mohindru Vs ITO (ITAT Amritsar)
ITAT Amritsar Deletes ₹2.75 Cr Demonetisation Cash Deposit Addition: Sales Supported by Stock Register Cannot Be Disbelieved on “Human Probability”
The Amritsar Bench of the ITAT allowed the assessee’s appeal and deleted the addition of ₹2.75 crore made under section 69A (taxed under section 115BBE) towards cash deposits during the demonetisation period for AY 2017-18. The assessee, a jeweller, had deposited ₹4.09 crore during demonetisation, of which the AO accepted ₹1.34 crore as explained and treated the balance as unexplained, invoking se...
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