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        Case ID :
        Income Tax

        The ITAT Delhi addressed the issue of addition u/s 68 for...

        Cash sales supported by audited books, VAT returns, stock tally cannot be disregarded u/s 68. CIT(A) rightly relied on tribunal judgments.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                The ITAT Delhi addressed the issue of addition u/s 68 for unexplained cash deposits in demonetized currency. The appellant demonstrated substantial cash sales supported by audited books, invoices, VAT records, and stock tally. The CIT(A) confirmed the regularity of cash sales over multiple assessment years. The tribunal found no defects in sales, purchases, or stock records, with substantial cash sales in all years. The AO accepted most sales except for a specific period. The tribunal upheld the CIT(A)'s decision, citing precedents, and dismissed the Revenue's appeal after thorough review of the record and arguments.
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