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2 results for “bogus purchases”+ Demonetizationclear

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Key Topics

Section 683Cash Deposit2Demonetization2Addition to Income2

NARESH SAMALA,WARANGAL vs. INCOME TAX OFFICER, WARD-1, WARANGAL

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 1196/HYD/2025[2017-18]Status: DisposedITAT Hyderabad09 Jan 2026AY 2017-18

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President)

Section 115BSection 44ASection 68

bogus purchases and expenses may have been booked to avoid impact on the taxable income for the year. Therefore, the Ld. CIT(A) rejected the explanation of the assessee and sustained the addition made by the A.O. towards cash deposits into the bank account during the demonetization

APR JEWELLERS PRIVATE LIMITED,ANATHAPUR vs. ITO WARD 1(2), HYDERABAD

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 456/HYD/2024[2017-2018]Status: Disposed
ITAT Hyderabad
20 Feb 2025
AY 2017-2018

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha, G.आ.अपी.सं /Ita No.456/Hyd/2024 (िनधा"रण वष"/Assessment Year: 2017-18) Apr Jewellers (P) Ltd Vs. Income Tax Officer Hyderabad Ward 2(1) Pan:Aalca3233D Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri, M. Bhupal Gowd, Ca राज" व "ारा/Revenue By:: Shri Srinath Sadanala, Dr सुनवाई की तारीख/Date Of Hearing: 17/02/2025 घोषणा की तारीख/Pronouncement: 20/02/2025 आदेश/Order

For Appellant: Shri, M. Bhupal Gowd, CAFor Respondent: : Shri Srinath Sadanala, DR
Section 142(1)Section 69A

demonetization period. The Assessing Officer issued show cause notice u/s 142(1) and asked the assessee to furnish the details in support of the claim of cash sales being the source of cash deposits, including stock register, sale bills, details of investment made, loss on sales of shares claimed. In response, the assessee filed the reply and explained the monthly