https://www.taxtmi.com/caselaws?id=456788 ITAT Delhi upheld CIT(A)'s deletion of additions made by AO for enhanced gross profit rate, finding no discrepancies in audited books and regular stock records. Court noted search revealed nothing incriminating and cash sales were properly recorded without statutory prohibition. Addition for farmer payments was deleted as purchases were made from legitimately withdrawn cash, distinguishing from cases involving unexplained credits under section 68. Addition based on seized documents was ordered deleted entirely as documents pertained to AY 2008-09, not the relevant AY 2007-08. Revenue's appeal dismissed. en-us Fri, 15 Mar 2019 00:00:00 +0530 Wed, 14 Aug 2024 21:20:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456788 ITAT Delhi upheld CIT(A)'s deletion of additions made by AO for enhanced gross profit rate, finding no discrepancies in audited books and regular stock records. Court noted search revealed nothing incriminating and cash sales were properly recorded without statutory prohibition. Addition for farmer payments was deleted as purchases were made from legitimately withdrawn cash, distinguishing from cases involving unexplained credits under section 68. Addition based on seized documents was ordered deleted entirely as documents pertained to AY 2008-09, not the relevant AY 2007-08. Revenue's appeal dismissed. Case-Laws Income Tax Fri, 15 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456788