S. 69 Addition not Sustainable on Mere Delay in Deposit During Demonetisation Period: ITAT [Read Order]

Addition not Sustainable on Mere Delay - Deposit During Demonetisation Period - ITAT - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that addition under Section 69 of the Income Tax Act 1961 is not sustainable on mere delay in deposit during demonetisation period. The Assessee Raj Kumar had filed an appeal against addition of Rs. 35 lakhs under Section 69A of the Income Tax Act…

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