2025 (7) TMI 1746

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.... to as 'the Act') dated 18.10.2021 by the Assessing Officer, NFAC, Delhi (hereinafter referred to as 'ld. AO'). 2. The only effective issue to be decided in this appeal is as to whether the sales disclosed by the assessee in the sum of Rs. 93,34,85,432/- could be considered as a separate addition u/s 68 of the Act treating the same as unexplained cash credit in the in facts and circumstances of the instant case. 3. We have heard the rival submissions and perused the material available on record. The assessee is engaged in the business of marketing and distribution of e-recharge services. It purchases online e-recharge vouchers from DTH operators and sells it to various distributors/retailers/online aggregators. The return for AY 2018-19 w....

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.... the assessee had duly disclosed the transaction with these parties as its sales and offered the same to tax and hence there is no question of making separate addition which would result in double taxation. The assessee on its part furnished all the KYC information related to customers in the form of sale invoices raised to the customers, ledger account of the customers as appearing in its books, bank statement duly highlighting the receipts from the concerned customers, financial statement of customers which are listed companies and copy of GST returns filed by the assessee which support the billings made to the customers before the ld AO. The assessee also submitted the sale confirmation from the customers before the ld AO. With regard to....