SHRI DIPTEN AHINDRA BHOWMICK,GANDHIDHAM-KUTCH vs. THE ITO, WARD-1, GANDHIDHAM-KUTCH
In the result, the appeal filed by the assessee is allowed
ITA 134/RJT/2022[2016-17]Status: DisposedITAT Rajkot04 Jan 2023AY 2016-17
Bench: Shri Waseem Ahmed & Shri T. R. Senthil Kumar
For Appellant: Shri Gaurang Khakhar, A.RFor Respondent: Shri Shramdeep Sinha, CIT DR
Section 10Section 143(3)Section 154Section 250Section 264Section 264(1)Section 40A(3)
demonetization period showing substantial cash in hand as on 31-03-2016. Therefore, the return of income was selected for limited scrutiny to verify the genuineness of cash in hand.
In this regard, he furnished necessary details and the AO after the verification accepted the genuineness of cash balance Rs. 41,18,857/- as on 31-03-2016. However