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Informative

ITAT Upholds CIT(A)’s Deletion of ₹3.24 Crore Cash Sales Addition Post-Demonetization u/s 68 of Income Tax Act

Update / Judgement Date

16 Feb 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Income TaxOther Legal Matters

The ITAT upheld the CITA's deletion of a crore cash sales addition post-demonetization. This decision highlights the challenges of dealing with cash transactions during and after demonetization. It underscores the need for proper documentation and explanation of such transactions.