ABDULWAHID ABDULKARIM QURESHI,AHMEDNAGAR vs. ITO, WARD 2, AHMEDNAGAR

In the result, both the appeals of the assessee are allowed

Bench: Dr.Manish Borad & Shri Vinay Bhamore

68. 8] Without prejudice to the above grounds, it is prayed that if at all, any addition u/s.68, is to be sustained, then the A.O. may be directed to tax only peak cash deposits made during the year after allowing benefit of cash withdrawals made from the same account and the entire cash deposits may not be taxed as income

ABDULWAHID ABDULKARIM QURESHI,AHMEDNAGAR vs. ITO, WARD 2,, AHMEDNAGAR

In the result, both the appeals of the assessee are allowed