ITAT deletes 69 Addition as Cash Sales can’t take place before Commencement of Business [Read Order]

The ITAT deleted the addition made under section 69A and dismissed the appeal filed by Revenue
By Yogitha S. Yogesh - On July 25, 2024 4:37 pm - 2 mins read
ITAT - Cash Sales - place - Commencement - Business - taxscan

The New Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under section 69 of the Income Tax Act, 1961 as the cash sales can’t take place before commencement of business.Appliances Forever, the respondent- assessee is a trader in electrical goods trader, filed its return declaring income of Rs.4,700/-. During…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader