2024 (1) TMI 1025

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....e Respondent : Sh. Vivek Kumar Upadhyay, Sr. DR ORDER Per Dr. B. R. R. Kumar:- The present appeal has been filed by assessee against the order of Ld. NFAC/CIT(A), Delhi dated 13.02.2023. 2. The assessee in appeal against confirmation of Rs. 10 lakh by the ld. CIT(A).   3. The relevant part of the order of the ld. CIT(A)is as under:- Admittedly, in impugned case, the ap....

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....iz. copy of sales vouchers, cash sale register and amount deposited in bank account so as to enable the undersigned to workout the actual cash balance with the assessee as on 08.11.2016. As per cash flow chart shown on page 4 of the assessment order, total cash sale from 1.4.2016 to 8.11.2016 is at Rs. 67,24/682/-. Therefore, this amount represents entire cash sale of 8 months excluding the part p....

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.... Thus, the assessee gets a relief of Rs. 9,78,514/-. 4. Heard the arguments of both the parties and perused the material available on record.  5. The Revenue has undisputedly admitted that the appellant had deposited cash of Rs. 48,80,000/- in bank account during the demonetization period. It was also an admitted fact that the assessee company has been engaged in sale of bikes or two....