Held that cash deposited cannot be treated as unexplained money merely on suspicion. Expenses cannot be disallowed on estimate basis. (AY. 2017-18)
Chintpuri School v. Dy. CIT (2024) 115 ITR 17 (SN)(Amritsar)(Trib)
S. 68 : Cash credits-Un explained money-Cash deposit-Demonetisation-Addition cannot be made on suspicion-Addition is deleted-Business expenditure-Disallowance of expenses on estimate basis is disallowed. [S.37(1),115BBE]
Leave a Reply