This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 68 Addition Quashed Where Purchases and Stock Were Not Disputed
Case Law Details
- Case Name
- DCIT Vs Radhika Mehra (ITAT Delhi)
- 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 Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
DCIT Vs Radhika Mehra (ITAT Delhi)
ITAT Delhi: Cash Deposits During Demonetisation Explained by Recorded Jewellery Sales – Section 68 Not Attracted; Capital Introduced under PMGKDS Not Taxable Again
The Delhi Bench of the ITAT dismissed the Revenue’s appeal and upheld the deletion of additions made under section 68 read with section 115BBE for AY 2017-18. The Assessing Officer had treated cash deposits of ₹1.45 crore during the demonetisation period as unexplained money, alleging bogus cash sales of jewellery and inadequate verification of purchases. The CIT(A), after admitting additiona...
Author Info
