Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
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.
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
