ITO, Ward-43(1), New Delhi vs. Vinod Kumar Kansal
Case No: ITA No. 3519/Del/2024
Court: Income Tax Appellate Tribunal, Delhi Bench
Bench: Delhi Bench
Date: 2/6/2026
Parties Involved
appellantITO, Ward-43(1), New Delhi
respondentVinod Kumar Kansal
Facts Summary
The assessee, Vinod Kumar Kansal, operating under the name M/s Shree Krishna Jewellers, filed a return of income for assessment year 2017-18 declaring taxable income of Rs 5,05,000. The Assessing Officer noticed cash deposits amounting to Rs 1,54,95,500/- during the demonetization period and made an addition under Section 68 of the Income-tax Act, 1961. The assessee provided detailed cash books, sales details, purchase details, VAT returns, and bank statements to explain the source of cash depos…
Decision in favour of
Assessee
Legal Issues
- 1. Deletion of addition made by AO on account of cash deposits
Precedents Relied Upon
2 precedents cited in this judgement.