Provision of Section 69A of IT Act cannot be applied to Cash Deposits duly recorded in Books of Account: ITAT [Read Order]

IT Act - Cash Deposits duly recorded in Books of Account - ITAT - Books of Account - Cash Deposits - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the provisions of Section 69A of the Income Tax Act cannot be applied to the cash deposits which have been duly recorded in the books of account. The assessee is engaged in the business of gold bullion and gold jewellery on a wholesale…

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