No discrepancies in sales, Books of accounts also not rejected – No addition towards cash deposit sustainable
The Hon’ble ITAT, Delhi Bench has recently deleted the addition made U/s 68 of the Income Tax Act on account of cash deposits.
The Hon’ble bench observed that, the assessee had already provided various documents to substantiate the cash sales, and there is no discrepancy has been pointed out by the Assessing Officer. Also, the books of account are not rejected by the Assessing officer.
Hence, the addition made by the Assessing Officer was deleted.
The copy of the order is as under:
