https://www.taxtmi.com/caselaws?id=449374 ITAT Chennai set aside CIT(A)'s order deleting addition related to substantial increase in cash sales during demonetization period. CIT(A) had applied preponderance of probability in assessee's favor despite insufficient evidence of adequate stock availability. ITAT held that assessee failed to establish sufficient stock to support claimed sales transactions. Matter remitted to AO for fresh examination of stock details and proper determination of the issue. Revenue's appeal allowed for statistical purposes. en-us Thu, 18 Jan 2024 00:00:00 +0530 Sat, 10 Feb 2024 07:44:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449374 ITAT Chennai set aside CIT(A)'s order deleting addition related to substantial increase in cash sales during demonetization period. CIT(A) had applied preponderance of probability in assessee's favor despite insufficient evidence of adequate stock availability. ITAT held that assessee failed to establish sufficient stock to support claimed sales transactions. Matter remitted to AO for fresh examination of stock details and proper determination of the issue. Revenue's appeal allowed for statistical purposes. Case-Laws Income Tax Thu, 18 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449374