No additions if cash deposits during demonetization was actual cash sales of assessee supported with bills: ITAT

INCOME TAX : Where AO made addition under section 68 on account of huge cash amount deposited by assessee-jeweller in its bank account post demonetization, since assessee had explained source of said cash deposits as sales of jewellery, produced sale bills and admitted same as revenue receipt as well as offered it to tax and assessee also represented outgo of stocks which was matching with sales, impugned addition was to be deleted

from www.taxmann.com Latest Case Laws https://ift.tt/2VmHsQM