https://www.taxtmi.com/caselaws?id=462506 The AT dismissed Revenue's appeal against CIT(A)'s order for AY 2017-18. Revenue challenged deletion of Rs. 12.83 crores addition under Section 68 for unexplained cash credits and Rs. 2.93 crores under Section 69B for stock undervaluation. The AT upheld CIT(A)'s findings that sales were made from available stock with adequate purchase records, despite suspicious post-demonetization timing. For stock valuation, AT noted AO accepted books for Section 68 addition but contradictorily questioned reliability for Section 69B without rejecting accounts or proving undervaluation per accounting standards. Both deletions were sustained. en-us Wed, 01 Jan 2025 00:00:00 +0530 Fri, 27 Jun 2025 08:36:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462506 The AT dismissed Revenue's appeal against CIT(A)'s order for AY 2017-18. Revenue challenged deletion of Rs. 12.83 crores addition under Section 68 for unexplained cash credits and Rs. 2.93 crores under Section 69B for stock undervaluation. The AT upheld CIT(A)'s findings that sales were made from available stock with adequate purchase records, despite suspicious post-demonetization timing. For stock valuation, AT noted AO accepted books for Section 68 addition but contradictorily questioned reliability for Section 69B without rejecting accounts or proving undervaluation per accounting standards. Both deletions were sustained. Case-Laws Income Tax Wed, 01 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462506