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Section 68 Inapplicable to Cash Deposits from Recorded Jewellery Sales: ITAT Jaipur

Case Law Details

Case Name
ITO Vs Raj Kumar Nowal (ITAT Jaipur)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2017-18
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ITO Vs Raj Kumar Nowal (ITAT Jaipur) The Income Tax Appellate Tribunal (ITAT), Jaipur Bench, adjudicated an appeal filed by the Revenue (ITO) against the order dated February 10, 2022, passed by the Commissioner of Income Tax (Appeals)-4, Jaipur [CIT(A)] for Assessment Year 2017–18. Material Facts & Procedural History The assessee is an individual carrying on the business of jewellery under two sole proprietorship concerns, M/s D.N. Diamonds (Jaipur) and M/s Dinanath Raj Kumar (Kanpur). The assessee filed a return of income on October 16, 2017, declaring a total income of ₹40,11,520. D...
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Author Info

CA Sandeep Kanoi
Qualification: CA in Job / Business
Company: Taxguru Consultancy
Location: Mumbai, Maharashtra
Articles Published: 17,993

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