Case Law Details
Case Name : DCIT Vs Manuvel Malabar Jewellers Pvt. Ltd. (ITAT Delhi)
Related Assessment Year : 2017-18
Courts :
All ITAT ITAT Delhi
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DCIT Vs Manuvel Malabar Jewellers Pvt. Ltd. (ITAT Delhi)
ITAT Delhi held that the cash deposited out of sales cannot be treated as income u/s 68 of the Income Tax Act once the sales are not disputed by the revenue.
Facts- The assessee is a private limited company engaged in retail trading of gold and diamond jewellery operating from rented premises at Sarojini Nagar Market, New Delhi during the year under consideration. The modus operandi adopted by the assessee in its bus
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