The Appellate Tribunal considered unexplained cash deposits during demonetization. The Tribunal noted...

The Appellate Tribunal considered unexplained cash deposits during demonetization. The Tribunal noted the assessee's agricultural income and expenses but found insufficient evidence of various expenses. Adjusting claimed expenses, a portion of the unexplained cash remained unexplained. The Tribunal partly allowed the assessee's appeal. The Tribunal ruled that Section 115BBE couldn't be applied retroactively as it came into force after the search. Citing precedent, the Tribunal held the addition u/s 115BBE was unsustainable. Therefore, Section 115BBE was deemed inapplicable in the case, favoring the assessee. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X