https://www.taxtmi.com/caselaws?id=464877 ITAT Delhi dismissed the Revenue's appeal and upheld the CIT(A)'s deletion of addition under s. 68 on alleged bogus cash sales made between 01.10.2016 and 08.11.2016. The Tribunal noted that the AO did not dispute quantitative stock details in the tax audit report, accepted VAT-verified sales and trading results, and found no specific defect in books or GP ratio. The assessee had sufficient stock to support cash sales, and there was no evidence that the cash generated was used elsewhere. Consequently, cash deposits could not be treated as unexplained. en-us Thu, 09 May 2024 00:00:00 +0530 Wed, 19 Nov 2025 20:57:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464877 ITAT Delhi dismissed the Revenue's appeal and upheld the CIT(A)'s deletion of addition under s. 68 on alleged bogus cash sales made between 01.10.2016 and 08.11.2016. The Tribunal noted that the AO did not dispute quantitative stock details in the tax audit report, accepted VAT-verified sales and trading results, and found no specific defect in books or GP ratio. The assessee had sufficient stock to support cash sales, and there was no evidence that the cash generated was used elsewhere. Consequently, cash deposits could not be treated as unexplained. Case-Laws Income Tax Thu, 09 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464877