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Section 69A Addition Reduced from ₹2.26 Crore to ₹5 Lakh as Cash Deposits Explained: ITAT Delhi
Case Law Details
- Case Name
- Vikas Sethi Vs ITO (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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Vikas Sethi Vs ITO (ITAT Delhi)
The assessee appealed against the order of the National Faceless Appeal Centre (NFAC) for Assessment Year 2017-18. The appeal challenged the validity of the assessment proceedings, the jurisdiction of the Assessing Officer, and the confirmation of an addition of Rs. 2,26,54,967 under Section 69A of the Income-tax Act, 1961 on account of cash deposits.
The assessee, proprietor of M/s Smart Infosystems, was engaged in trading computer peripherals and parts, rendering service assignments for HCL Services Ltd. and TVS Electronics Ltd., and handling ...
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