Ramesh v. ITO (2024) 229 TTJ 746 / 238 DTR 57 / 38 NYPTTJ 547 (Jodhpur) (Trib)

S. 69A : Unexplained money-Income from undisclosed sources-Cash deposits in banks-Demonetization-Sale of goods-Deposited by customers-Addition is deleted. [s. 133(6)]

Held that when the sales is not disputed cash deposited by customers  though SBN cannot be considered as unexplained money in the hands of the assessee as the same has not been received by the assessee directly and the same was received by the bank which was permitted till 31st December, to be received by the bank.  Addition is deleted. (AY.2017-18)

Leave a Reply

Your email address will not be published. Required fields are marked *

*