Demonetisation Deposits Explained by Opening Balance: ITAT Delhi Deletes 68 Addition

DCIT Vs Nivaya Resources Pvt. Ltd. (ITAT Delhi)

Cash Deposits During Demonetisation Explained by Opening Imprest Balance: ITAT Delhi Rejects Section 68 Addition

The Delhi Bench of the ITAT dismissed the Revenue’s appeal and partly allowed the assessee’s cross-objection in a case involving cash deposits made during the demonetisation period. The Assessing Officer had treated cash deposits of ₹2.12 crore as unexplained under section 68, alleging that the assessee failed to j

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