{"id":61175,"date":"2026-06-25T10:57:15","date_gmt":"2026-06-25T05:27:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ito-v-rajeshkumar-rameshchandra-shah-2025-214-itd-725-ahd-trib-2\/"},"modified":"2026-06-25T10:57:15","modified_gmt":"2026-06-25T05:27:15","slug":"ito-v-rajeshkumar-rameshchandra-shah-2025-214-itd-725-ahd-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ito-v-rajeshkumar-rameshchandra-shah-2025-214-itd-725-ahd-trib-2\/","title":{"rendered":"ITO v. Rajeshkumar Rameshchandra Shah. (2025) 214 ITD 725 (Ahd) (Trib.)"},"content":{"rendered":"<p><strong>\u00a0<\/strong><\/p>\n<p>During demonetization period, assessee had made cash deposits in its bank account and claimed same to be out of cash sales made by assessee during period October, 2016 to 08-11-2016. Assessing officer held\u00a0 that assessee had recorded no major cash sales between April to September, 2016 but heavy cash sales were recorded thereafter and further, he noted that there were certain abnormalities in cash sales registers which indicated non-genuineness of sales. On this basis, Assessing Officer held that cash deposited during demonetization period was undisclosed cash of assessee and hence, same was added under section 68. CIT(A) deleted the addition. On appeal the Tribunal held that\u00a0 the\u00a0 assessee had furnished all evidences proving genuineness of sales made during demonetization period duly supported with purchases made which were further evidenced by copy of VAT returns filed by assessee and also stock records of the assessee. Further, notices issued by the Assessing Officer to all parties from whom purchases were made by assessee under section 133(6) were duly responded to, and parties confirmed sales made to assessee. there was no abnormality in the quantum of sales made by assessee in the year as compared to the preceding year.Neither auditor had pointed out any discrepancy in accounts of assessee nor Assessing Officer had rejected books of assessee under section 145(3). Order of CIT(A) deleting the addition was affirmed. (AY. 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68: Cash credits-Cash deposits-Demonetization-Proved sales with VAT returns, stock records, supplier confirmations-Books of account not rejected-Addition was deleted.  [S. 145(3)]<\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61175","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fUH","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61175","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=61175"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61175\/revisions"}],"predecessor-version":[{"id":61176,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61175\/revisions\/61176"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}