https://www.taxtmi.com/caselaws?id=770073 ITAT Delhi allowed the assessee's appeal against additions made under sections 68 and 69C for treating sales receipts as bogus. The AO had initially accepted the books of accounts and stock records in assessment under section 143(3) after examining purchase and sales details. However, in reassessment proceedings, the AO treated the same sales as bogus solely based on statements from parties claiming they provided accommodation entries, without granting cross-examination opportunity to the assessee. The assessee demonstrated actual delivery of goods from regular stock with proper records. The tribunal held that additions cannot be made merely because the other party denied transactions without providing cross-examination opportunity. en-us Wed, 30 Apr 2025 00:00:00 +0530 Tue, 06 May 2025 09:58:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770073 ITAT Delhi allowed the assessee's appeal against additions made under sections 68 and 69C for treating sales receipts as bogus. The AO had initially accepted the books of accounts and stock records in assessment under section 143(3) after examining purchase and sales details. However, in reassessment proceedings, the AO treated the same sales as bogus solely based on statements from parties claiming they provided accommodation entries, without granting cross-examination opportunity to the assessee. The assessee demonstrated actual delivery of goods from regular stock with proper records. The tribunal held that additions cannot be made merely because the other party denied transactions without providing cross-examination opportunity. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770073