Case Law Details
Case Name : Gold Palace Jewellers Vs ACIT (ITAT Bangalore)
Appeal Number : ITA No.2159/Bang/2024
Date of Judgement/Order : 18/12/2024
Related Assessment Year : 2017-18
Courts :
All ITAT ITAT Bangalore
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Gold Palace Jewellers Vs ACIT (ITAT Bangalore)
₹2.44 crore cash deposit addition confirmed by CIT(A)without proper opportunity: ITAT Orders Fresh Adjudication
In the case of Gold Palace Jewellers Vs ACIT, the Income Tax Appellate Tribunal (ITAT) Bangalore addressed an appeal filed by the assessee, a partnership firm engaged in gold and diamond jewelry trading. The case revolved around unexplained cash deposits of ₹2.44 crore during the demonetization period, which the Assessing Officer (AO) had taxed under Section 69A of the Income Tax Act. Diss
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