AO cannot Simultaneously Reject & Rely Audited Books & Make Additions

Nilkantha Saha Vs ITO (ITAT Kolkata) AO Cannot Simultaneously Reject and Rely Audited Books And Make Additions Under Section 68 For Cash Deposit During Demonetisation Period Out Of Cash Sales From a perusal of the cash deposits/ banking transactions, the Ld. A.R drew our attention to the fact that as per the audited books, especially the trading accounts it can be noted that assessee’s sales (total) in this year was to the tune of Rs. 4,76,78, 990/-(Rs. 4.76 crores) and the bank deposits tally i.e. Rs. 4,76,78,990/- in three (3) bank accounts. It was brought to my notice that before November...