https://www.taxtmi.com/caselaws?id=762939 The ITAT Delhi allowed the assessee's appeal against addition under section 69A read with section 115BBE for cash deposited during demonetization. The Revenue made the addition based on presumption without bringing adverse material to controvert the assessee's claim that deposited amount was from cash sales. The assessee demonstrated past cash sales history and maintained audited books of accounts which were accepted by Revenue. The AO should have verified stock records to confirm sales-purchase matching rather than making addition on mere suspicion without adverse evidence. en-us Wed, 11 Sep 2024 00:00:00 +0530 Tue, 10 Dec 2024 08:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762939 The ITAT Delhi allowed the assessee's appeal against addition under section 69A read with section 115BBE for cash deposited during demonetization. The Revenue made the addition based on presumption without bringing adverse material to controvert the assessee's claim that deposited amount was from cash sales. The assessee demonstrated past cash sales history and maintained audited books of accounts which were accepted by Revenue. The AO should have verified stock records to confirm sales-purchase matching rather than making addition on mere suspicion without adverse evidence. Case-Laws Income Tax Wed, 11 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762939