Cash Sales Evidence not Produced to Prove genuineness of Cash Deposit Made During Demonetisation Period: ITAT directs Fresh Adjudication [Read Order]

Assessee's failure to produce original cash sales documents leads to an addition in taxable income. ITAT directs CIT(A) to re-examine the matter
By Kavi Priya - On August 21, 2024 11:25 am - 3 mins read
ITAT - ITAT directs - Adjudication - Cash Sales - Fresh Adjudication - Cash Deposit - Commissioner of Income Tax - Commissioner of Income Tax (Appeals) - taxscan

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) directed the Commissioner of Income Tax (Appeals) to conduct fresh adjudication in the matter where the assessee failed to produce evidence of cash sales to substantiate the genuineness of cash deposits made during the demonetization period. Premier Wholesaler Pvt. Ltd,  a wholesaler of audio systems…

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