Day: August 4, 2026

Addition for cash deposits in bank account which were immediately transferred to other accounts deleted in absence any enquiry by AO In a recent judgment, ITAT deleted the addition towards cash deposits in bank account of the assessee during demonetisation window which were immediately transferred to other accounts …

ITAT disallows 6% for alleged bogus purchases as purchases from unregistered dealers could not be ruled out. In a recent judgment, ITAT has held that a disallowance of 6% for alleged bogus purchases was appropriate as purchases from unregistered dealers per se could not be altogether ruled out …