Addition Reduced as AO Failed to Disprove Books but Assessee cannot Fully Explain Cash Surge

ITO Vs Retro Footwear Private Limited (ITAT Delhi) The appeal was filed by the Revenue against the order dated 09.04.2025 passed by the Commissioner of Income Tax (Appeals), New Delhi, for Assessment Year 2017–18, arising from the assessment order dated 29.12.2019 under Section 143(3) of the Income Tax Act, 1961. The dispute pertained to deletion of an addition of ₹1,23,97,000 made by the Assessing Officer under Section 68 on account of cash deposits during the demonetisation period. The Revenue contended that the CIT(A) erred in deleting the addition without considering alleged discrepanc...