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Income Tax

No Section 69A Addition for Demonetisation Cash Deposits From Recorded Jewellery Sales: ITAT Ahmedabad

Case Law Details

Case Name
DCIT Vs Bharatji Designer Jewellery Pvt. Ltd. (ITAT Ahmedabad)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2017-18
Advertisement DCIT Vs Bharatji Designer Jewellery Pvt. Ltd. (ITAT Ahmedabad) Addition Under Section 69A Cannot Be Made on Mere Suspicion During Demonetisation;  ITAT Deletes ₹2.35 Crore Addition Because Jeweller’s Books Showed Proper Stock and Sales Records;  ITAT Upholds Deletion of Demonetisation Addition Due to Lack of Specific Defects in Books; Abnormal Sales Increase During Demonetisation Alone Not Enough for Section 69A Addition. The ITAT Ahmedabad dismissed the Department’s appeal and upheld the deletion of addition of ₹2.35 crore made under Section 69A in respect of cash d...
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Author Info

CA Sandeep Kanoi
Qualification: CA in Job / Business
Company: Taxguru Consultancy
Location: Mumbai, Maharashtra
Articles Published: 19,136

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