https://www.taxtmi.com/caselaws?id=311894 ITAT Mumbai dismissed the revenue's appeal regarding unaccounted cash receipts found during survey operations. The tribunal upheld CIT(A)'s deletion of additions, finding that amounts were either already recorded in books as customer advances, pertained to different assessment years, were duplicate entries, or were not actually received by the assessee. For assessment year 2007-08, ITAT confirmed most deletions but directed verification of two transactions claimed as bank transfers. The tribunal also held that assessment notices issued by unauthorized officers were invalid, making the assessment order unsustainable. Regarding audit under section 44AB, ITAT ruled it inapplicable due to absence of turnover. en-us Mon, 12 Sep 2022 00:00:00 +0530 Fri, 19 Jan 2024 20:19:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311894 ITAT Mumbai dismissed the revenue's appeal regarding unaccounted cash receipts found during survey operations. The tribunal upheld CIT(A)'s deletion of additions, finding that amounts were either already recorded in books as customer advances, pertained to different assessment years, were duplicate entries, or were not actually received by the assessee. For assessment year 2007-08, ITAT confirmed most deletions but directed verification of two transactions claimed as bank transfers. The tribunal also held that assessment notices issued by unauthorized officers were invalid, making the assessment order unsustainable. Regarding audit under section 44AB, ITAT ruled it inapplicable due to absence of turnover. Case-Laws Income Tax Mon, 12 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311894