Books Clean, Sales Matched — No Suspicion Without Evidence – Demon Cash Addition Not Sustainable

Raideep Bhalla & Sons Vs ITO (ITAT Chandigarh)

Books Clean, Sales Matched — No Suspicion Without Evidence – Demon Cash Addition Not Sustainable

Summary

The assessee deposited ₹43.72 lakh in cash during demonetisation, explaining that it represented regular cash sales made before 08.11.2016. The AO accepted most of the sales but still treated ₹20.86 lakh as unexplained, despite no defects in audited books, stock, purchases, or sales. CIT(A) confirmed the addition.

ITAT held that the addition was based purely on suspicion, especia

Please become a Premium member. If you are already a Premium member, login here to access the full content.