https://www.taxtmi.com/caselaws?id=766701 The ITAT Delhi allowed the assessee's appeal against addition under section 68 read with section 115BBE for cash deposits during demonetization period. The AO made additions treating cash deposits as unexplained without pointing out defects in books of account or finding discrepancies in stock, sales, and purchases. The CIT(A) partially deleted the addition. The ITAT held that since no book defects were identified and the assessee demonstrated cash sales matched deposits with minimal increase during FY 2016-17, the addition was unjustified, following the precedent in Bawa Jewellers case. en-us Thu, 27 Feb 2025 00:00:00 +0530 Mon, 03 Mar 2025 08:22:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766701 The ITAT Delhi allowed the assessee's appeal against addition under section 68 read with section 115BBE for cash deposits during demonetization period. The AO made additions treating cash deposits as unexplained without pointing out defects in books of account or finding discrepancies in stock, sales, and purchases. The CIT(A) partially deleted the addition. The ITAT held that since no book defects were identified and the assessee demonstrated cash sales matched deposits with minimal increase during FY 2016-17, the addition was unjustified, following the precedent in Bawa Jewellers case. Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766701