Application of cash received from unrecorded cash sales needs verification hence matter restored

Ashwin Rajendra Bade Vs ACIT (ITAT Pune) ITAT Pune held that application of cash received from unrecorded cash sales needs verification since assessee claims that it is applied for giving advance to the farmers for purchase of raw material and also for expansion of the existing showroom. Facts- The assessee is an individual carrying on the business of manufacture of Furniture under the sole proprietorship concern M/s.J.M. Sales. Survey action u/s.133A of the Act was conducted on 06.02.2019 during which shortage of stock to the tune of Rs.79,96,450/-was found and the same was accepted by the as...