ITAT Delhi Upholds Bonafide of Cash Sales During Demonetisation

ACIT Vs Delhi Spot Bullion Trading Co. Pvt (ITAT Delhi) The ld. CIT(A) has duly analyzed the sales & purchases, stock, cash and compared it with F.Y. 2014-15, F.Y. 2015-16 and also F.Y. 2016-17. The day wise cash book has been examined, the same have been incorporated in this order. The comparative data of purchase and stock for four years to determine the regularity of the cash sales has been examined. No defects have been pointed in purchase, sale and stock. There have been substantial cash sales in all the four years and the AO has accepted sales in cash for all the years except for the...