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Section 69A Addition on Demonetisation Deposits Deleted in 44AD Presumptive Case: ITAT Delhi
Case Law Details
- Case Name
- ITO Vs Hema Arora (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
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ITO Vs Hema Arora (ITAT Delhi)
Section 69A Addition on Demonetisation Cash Deposits Deleted in Presumptive Taxation Case under Section 44AD: ITAT Delhi
In ITO vs Hema Arora (AY 2017-18), the ITAT Delhi dismissed the Revenue’s appeal and upheld deletion of ₹79.85 lakh addition made u/s 69A relating to demonetisation cash deposits. The assessee, a small textile trader, declared income on presumptive basis u/s 44AD and explained that deposits were from Diwali-season cash sales and past savings. The Tribunal observed that turnover declared (₹1.02 crore) was higher than the d...
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