Case Law Details
Case Name : Polepalli Srinivasulu Gupta Vs DCIT (ITAT Visakhapatnam)
Related Assessment Year : 2011-12
Courts :
All ITAT ITAT Visakhapatnam
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Polepalli Srinivasulu Gupta Vs DCIT (ITAT Visakhapatnam)
Assessee consistently deposited sale proceeds realized by way of cash, such deposit is in accordance with law, addition deleted
Facts-
AO considered the seized material during the search operation and also deposition of the assessee u/s 131(1A) wherein the assessee has admitted unaccounted sales of Rs. 31,64,40,122/-. AO didn’t considered either the net profit as adopted by the a
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Author Bio
An Eye opening case, in which consistancy has been upheld by ITAT .