Emgee Integrated Logistics Pvt Ltd v. ACIT ( 2023) The Chamber’s Journal – April P. 140 ( Chennai)( Trib)

S. 68 : Cash credits – Cash deposit – Demonetization- Burden is on the Assessing Officer to prove that the explanation offered by the assesee are incorrect – Addition was deleted .

Held that the asseessee has shown withdrawal for cash deposits during demonetization period and discharged the burden cast upon them . The Assessing Officer has not made any further enquiry  . The addition was deleted .  ( ITA No. 982/ Chennai / 2022 . dt.   24/03/2023 (AY. 2017-18)