https://www.taxtmi.com/highlights?id=88396 ITAT dismissed revenue's appeal, upholding CIT(A)'s deletion of addition under Section 69A. The tribunal found no cogent evidence to challenge the assessee's claim regarding bank account credits as business receipts. The decision relied on precedent from Gujarat HC, which cautioned against double taxation when sales realization has already been accepted. The tribunal concluded that since the assessee made sales to the referenced entity and did not make corresponding purchases, the revenue's grounds lacked merit and were consequently rejected. en-us Thu, 15 May 2025 07:32:21 +0530 Thu, 15 May 2025 07:32:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=88396 ITAT dismissed revenue's appeal, upholding CIT(A)'s deletion of addition under Section 69A. The tribunal found no cogent evidence to challenge the assessee's claim regarding bank account credits as business receipts. The decision relied on precedent from Gujarat HC, which cautioned against double taxation when sales realization has already been accepted. The tribunal concluded that since the assessee made sales to the referenced entity and did not make corresponding purchases, the revenue's grounds lacked merit and were consequently rejected. Highlights Income Tax Thu, 15 May 2025 07:32:21 +0530 https://www.taxtmi.com/highlights?id=88396