Gross Profit Addition Deleted Because Tag Price Is Not Actual Sale Price

Begani Jewels Vs ACIT (ITAT Mumbai)

Tag Price Is Not Sale Price: ITAT Deletes Entire GP Addition Based on Cascade Software in Jewellery Search Case

Mumbai ITAT “B” Bench allowed the appeals of Begani Jewels for AYs 2020-21 to 2023-24 & dismissed the cross-appeals of the Revenue, holding that additions made u/s 28 on account of alleged suppression of sales by comparing Cascade software “tag prices” with actual sales recorded in Tally were unsustainable. The Tribunal held that tag prices recorded in Cascade softwar

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