2025 (2) TMI 1829

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....RIA, JUDICIAL MEMBER For the Appellant : Ms. Shweta Mittal, C.A. For the Respondent : Shri Sanjeev Krishna Sharma, Addl. CIT (D.R.) ORDER PER SUBHASH MALGURIA, J.M. These are the cross appeals filed by the assessee and by Revenue against impugned appellate order dated 24/09/2020 passed by learned Commissioner of Income Tax ["CIT(A)" for short]. For the sake of convenience these two ....

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.... view of foregoing and as representatives of both sides are in agreement on this, the appeal of Revenue is dismissed in limine without going into the merits of the case. (D) Now we will take up the appeal filed by the assessee. The facts of the case, in brief, are that the assessee is an individual and engaged in the whole sale trade of mobile phone and laptops of Lenovo and Lava brand nder the....

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....learned CIT(A). The learned CIT(A), on the basis of monthwise details of cash realized from the credit sales, came to the conclusion that the average cash receipts are 21.54% for the period upto September 2016. For the month of November, the realization should have been Rs. 90,14,527/- whereas the actual realization disclosed by the assessee is Rs. 1,13,28,142/-. Thus the learned CIT(A) came to th....