This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 68: Cash Receipts from Jewelry Sales Not Unexplained Cash Credits
Case Law Details
- Case Name
- ITO Vs Sahana Jewellery Exports Pvt. Ltd. (ITAT Chennai)
- 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 Chennai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
ITO Vs Sahana Jewellery Exports Pvt. Ltd. (ITAT Chennai)
Introduction: The Income Tax Appellate Tribunal (ITAT) in Chennai recently adjudicated a case between the Income Tax Officer (ITO) and Sahana Jewellery Exports Pvt. Ltd., revolving around the assessment year 2017-18. The dispute primarily centered on the cash deposits made during the demonetization period, with the ITO asserting that the deposits amounting to Rs. 51,39,39,100 were unexplained cash credits under Section 68 of the Income Tax Act, 1961.
Factual Background: Sahana Jewellery Exports Pvt. Ltd., engaged in the trading of gold a...
