No Additions u/s 69A allowable for Deposit of Demonetized Currency if Advance Tax paid under PMGKY Scheme: ITAT [Read Order]

By Navasree A.M - On December 15, 2022 8:10 pm - 2 mins read
No - Additions - Deposit - of - Demonetized - Currency - if - Advance - Tax - paid - under - PMGKY - Scheme - ITAT - TAXSCAN

In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) chaired by N.K. Balliya, Accountant Member and Kul Bharat, Judicial Member directed the Assessing Officer (AO) to delete the additions made under Section 69A of Income Tax Act, 1961 for the cash deposit of demonetized currency as the advance tax was…

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