Cash Deposits During Demonetization Alone Is No Basis To Make Addition In Absence Of Glaring Error In Books: Mumbai ITAT
Pankaj Bajpai
14 July 2024 5:45 PM IST

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14 July 2024 5:45 PM IST
Finding that cash sales as part of the trading result offered for taxation by the assessee is not disputed, the Mumbai ITAT held that addition is permitted on account of cash deposit during demonetization on mere allegation that books of account are manipulated without its rejection. The Bench presided by Prashant Maharishi (Accountant Member) observed that “Mere cash deposit or...
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