Unexplained Cash Deposit: ITAT Orders Verification of Rs. 47.8 Lakh Claimed to Be from Gas Cylinder Sales [Read Order]

The tribunal directed the AO to obtain detailed information related to the cash received from the customers and also the amount paid to the IOC for purchase of fresh gas cylinders
By Franklin Joshva - On March 31, 2025 4:21 pm - 2 mins read
Unexplained Cash Deposit - Cash Deposit - ITAT - ITAT Orders - ITAT Orders Verification - Gas Cylinder Sales - Gas Cylinder - taxscan

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to verify the source of Rs. 47.8 lakh deposited in the bank account of the assessee, claimed to be proceeds from gas cylinder sales. Neha Modi (assessee) is engaged in the business of trading, loading, and unloading of IOC Gas…

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