Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
The assessee made cash deposits during the demonetization period which were treated as unexplained u/s 69A. However, the Tribunal held that the cash deposits were within the normal trends and practices of the business, with cash sales ranging from 87% to 92% of total sales in previous years. The cash deposited during the financial year 2016-17 was lower at 87.92% compared to earlier years, indicating no variance from the established pattern. As the assessee had sufficient cash balance per the accepted books of accounts, the cash deposits could not be treated as undisclosed income. The Tribunal decided in favor of the assessee.
The assessee made cash deposits during the demonetization period which were treated as unexplained u/s 69A. However, the Tribunal held that the cash deposits were within the normal trends and practices of the business, with cash sales ranging from 87% to 92% of total sales in previous years. The cash deposited during the financial year 2016-17 was lower at 87.92% compared to earlier years, indicating no variance from the established pattern. As the assessee had sufficient cash balance per the accepted books of accounts, the cash deposits could not be treated as undisclosed income. The Tribunal decided in favor of the assessee.
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