https://www.taxtmi.com/caselaws?id=778007 ITAT DELHI-AT upheld the AO's treatment of alleged cash sales of Rs.2,95,78,312 as unexplained cash credit u/s 68 read with s.115BBE. The tribunal found the assessee failed to prove genuineness-no purchaser identities/addresses, sales purposely kept below Rs.2 lakh, and an anomalous sales spike during Oct-Nov 2016 around demonetization with no similar trends in subsequent years. CIT(A)'s reliance on VAT returns or acceptance of non-cash sales did not negate AO's adverse findings. The AO's additions were sustained and an estimated 10% disallowance of tour-and-travel expenses was applied. en-us Fri, 20 Jun 2025 00:00:00 +0530 Tue, 09 Sep 2025 08:38:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778007 ITAT DELHI-AT upheld the AO's treatment of alleged cash sales of Rs.2,95,78,312 as unexplained cash credit u/s 68 read with s.115BBE. The tribunal found the assessee failed to prove genuineness-no purchaser identities/addresses, sales purposely kept below Rs.2 lakh, and an anomalous sales spike during Oct-Nov 2016 around demonetization with no similar trends in subsequent years. CIT(A)'s reliance on VAT returns or acceptance of non-cash sales did not negate AO's adverse findings. The AO's additions were sustained and an estimated 10% disallowance of tour-and-travel expenses was applied. Case-Laws Income Tax Fri, 20 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778007