Addition during demonetization not sustained in absence of any abnormal trend of cash sales

Jagdamba Optics Pvt Ltd Vs DCIT (ITAT Delhi) Held that the cash sales and corresponding cash deposits have been a regular feature of the business of the assessee and there is certainly no abnormal trend of cash sales and cash deposit during the demonetization period. Accordingly, addition deleted. Facts- The appellant company is a 100% importer wherein it purchases spectacle lenses from China and sells the same from a shop situated at Fatehpuri, Chandni Chowk, New Delhi and a shop-cum-godowns at Noida. The nature of the business of the assessee is such that it has wholesale as well as retail s...