Addition u/s. 69A towards cash deposits deleted to the extent of accepted cash sales

Manglam Sales Corporation Vs ITO (ITAT Delhi) ITAT Delhi held that addition under section 69A of the Income Tax Act towards cash deposited during demonetization period deleted to the extent of cash sales which is accepted. Accordingly, appeal partly allowed. Facts- The assessee’s case was selected for scrutiny assessment in CASS in the category of complete scrutiny including the issue of cash deposit made by assessee during demonetization period. AO concluded that the cash deposit during demonetization period in the bank account from undisclosed sources is unexplained and also rejected the b...