https://www.taxtmi.com/caselaws?id=769646 ITAT Mumbai dismissed Revenue's appeal regarding addition of unaccounted sales. The case involved software found during search showing cash transactions with Ratnakala Group. CIT(A) had restricted the addition by applying gross profit rate instead of adding entire sales amount. ITAT held that substantial part of alleged unaccounted sales were actually recorded in books, and without doubting corresponding purchases, entire sales couldn't be added as unaccounted. Since most sales to the party were accounted with disclosed GP rate, applying same rate to alleged unaccounted sales was reasonable. CIT(A)'s approach of applying GP rate rather than adding full sales amount was upheld. en-us Tue, 22 Apr 2025 00:00:00 +0530 Tue, 29 Apr 2025 08:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769646 ITAT Mumbai dismissed Revenue's appeal regarding addition of unaccounted sales. The case involved software found during search showing cash transactions with Ratnakala Group. CIT(A) had restricted the addition by applying gross profit rate instead of adding entire sales amount. ITAT held that substantial part of alleged unaccounted sales were actually recorded in books, and without doubting corresponding purchases, entire sales couldn't be added as unaccounted. Since most sales to the party were accounted with disclosed GP rate, applying same rate to alleged unaccounted sales was reasonable. CIT(A)'s approach of applying GP rate rather than adding full sales amount was upheld. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769646