{"id":29858,"date":"2022-09-17T19:03:15","date_gmt":"2022-09-17T13:33:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/shri-krishna-chmankar-v-acit-2022-the-chambers-journal-february-p-182-mum-trib\/"},"modified":"2022-09-17T19:03:15","modified_gmt":"2022-09-17T13:33:15","slug":"shri-krishna-chmankar-v-acit-2022-the-chambers-journal-february-p-182-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/shri-krishna-chmankar-v-acit-2022-the-chambers-journal-february-p-182-mum-trib\/","title":{"rendered":"Shri Krishna Chmankar v .ACIT ( 2022) The Chamber\u2019s Journal -February \u2013 P. 182 ( Mum) ( Trib)"},"content":{"rendered":"<p>The assessee deposited the cash withdrawn from the bank\u00a0 . The AO held that the withdrawal of cash of specific\u00a0 denomination\u00a0 did not match the deposit of notes of specific denomination hence added the cash deposit u\/s 68 of the Act . On appeal the CIT(A) affirmed the order of the AO . On appeal the Tribunal held that the cash deposited did not exceed the cash withdrawals . There was no evidence on record to suggest that the cash withdrawn from banks was utilised for a different purpose and cash deposits after a considerable time were made\u00a0 from\u00a0 a different source altogether .\u00a0 Addition was deleted .\u00a0 Relied on ACIT v. Baldev Raj ( 2008)) 27 CCH 915 ( Delhi)( Trib), DCIT v. Ganga Singh( 2014) 41 CCH 170 ( Delhi)( Trib) , Anand Autoride Ltd v. JCIT ( 2005) 24CCH\u00a0 742( Ahd)( Trib) ( ITA No. 7125 \/Mum\/ 2019 dt . 27 -7- 2021)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits \u2013 Cash withdrawn earlier deposited \u2013 Denomination &#8211;  Addition is held to be not valid . <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-29858","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7LA","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=29858"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29858\/revisions"}],"predecessor-version":[{"id":29859,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29858\/revisions\/29859"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}