Alternate statutory remedy governs GST assessment challenge, with statutory appeal preserved and limitation objection barred for the permitted filing ...
ITAT partially allowed the assessee's appeal, restricting unexplained cash deposit additions to Rs. 5 lakhs. The tribunal found no merit in the revenue department's contentions, noting that section 115BBE was inapplicable for FY 2016-17 transactions. The enhancement made by NFAC was quashed due to lack of opportunity of being heard. The tribunal concluded that cash sales were routine for a scrap dealer and the additions were not substantiated by cogent evidence. The AO was directed to delete balance additions beyond Rs. 5 lakhs, effectively providing partial relief to the assessee.
ITAT partially allowed the assessee's appeal, restricting unexplained cash deposit additions to Rs. 5 lakhs. The tribunal found no merit in the revenue department's contentions, noting that section 115BBE was inapplicable for FY 2016-17 transactions. The enhancement made by NFAC was quashed due to lack of opportunity of being heard. The tribunal concluded that cash sales were routine for a scrap dealer and the additions were not substantiated by cogent evidence. The AO was directed to delete balance additions beyond Rs. 5 lakhs, effectively providing partial relief to the assessee.
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