ITAT restores matter to consider Source of Cash Deposited with Sale Proceeds of LPG Cylinder during Demonetization [Read Order]

ITAT - Restores - Source - Cash - Deposited - Sale - Proceed - LPG - Cylinder - Demonetization - taxscan

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that in the interest of justice and equity an opportunity should be granted to the assessee to prove the source of cash deposits and the matter was restored to the Assessing Officer (AO) for denovo consideration.  The assessee Mr. Anaveer is a proprietor of a…

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