Profit Estimated as Safeguard; Bulk Cash Credit Addition Set Aside

ACIT Vs Vrindavan Furnishing Pvt. Ltd. (ITAT Ahmedabad) Sales Accepted, Section 68 Can’t Be Invoked on Receipts; Only Higher Profit Estimation Permissible – ITAT Ahmedabad The Ahmedabad Bench of the ITAT, in ACIT, Central Circle-2(1) vs. Vrindavan Furnishing Pvt. Ltd. (ITA No.264/Ahd/2025, AY 2018-19, order dated 18-12-2025), dismissed the Revenue’s appeal and upheld the order of the CIT(A) deleting addition of ₹40.01 lakh u/s 68, made on the allegation of accommodation entries linked to entities controlled by Shri Sanjay Tibrewal. The Tribunal noted that although the assessee had rece...