https://www.taxtmi.com/caselaws?id=768731 The ITAT Delhi upheld the CIT(A)'s decision to delete additions made by the AO on two grounds. First, regarding cash credit in the form of shares, the tribunal found the issue covered in favor of the assessee citing precedent from Mauria Udyog Ltd. Second, concerning bogus expenses, the AO failed to provide material evidence that any goods were transported to Kandla or stored in godowns, or that payments were made to Trinity Shipping & Allied Services Pvt. Ltd. The tribunal found no infirmity in the CIT(A)'s order and dismissed the Revenue's appeal. en-us Wed, 09 Apr 2025 00:00:00 +0530 Fri, 11 Apr 2025 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768731 The ITAT Delhi upheld the CIT(A)'s decision to delete additions made by the AO on two grounds. First, regarding cash credit in the form of shares, the tribunal found the issue covered in favor of the assessee citing precedent from Mauria Udyog Ltd. Second, concerning bogus expenses, the AO failed to provide material evidence that any goods were transported to Kandla or stored in godowns, or that payments were made to Trinity Shipping & Allied Services Pvt. Ltd. The tribunal found no infirmity in the CIT(A)'s order and dismissed the Revenue's appeal. Case-Laws Income Tax Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768731