Partial Rejection of Books Held Invalid in Demonetisation Cash Deposit Case

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...