No Addition u/s 40A(3) for Advance Returned Back to Customer in Cash

M/s. Ashok Motors Vs DCIT (ITAT Guwahati) The issue under consideration is whether the addition u/s 40A(3) for advance which is returned back to the customer in cash is justified in law? ITAT states that, the assessee is running a show room in the name and style of M/s Ashok Motors. M/s Ashok Motors is a partnership firm which was constituted on 01.04.2014 and it is a Dealer of Mahindra car, Motor Parts and Accessories and it sells the automobiles / spare parts of the Mahindra & Mahindra. According to the assessee, modus operandi of its business is that when the customer places order with ...