Case Law Details
Case Name : Sumit Kesarwani Vs ITO (ITAT Lucknow)
Appeal Number : ITA No. 98/LKW/2024
Date of Judgement/Order : 31/12/2024
Related Assessment Year : 2017-18
Courts :
All ITAT ITAT Lucknow
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Sumit Kesarwani Vs ITO (ITAT Lucknow)
ITAT Lucknow held that addition by calculating sales on hypothetical basis and completely ignoring various evidences submitted during course of assessment proceedings is unjustifiable. Accordingly, appeal allowed and addition is deleted.
Facts- Assessee is the proprietor of the firm engaged in carrying on the business of purchases and sales of Match Boxes, Pan Masala, Cigarettes and Agarbattis. Case of the assessee was selected for scrutiny as there was abnormal increase in the cash deposits during the demonetization per
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