Cash sales not proved to be bogus hence addition u/s. 69A unjustified: ITAT Delhi

ITO Vs Appliances Forever (ITAT Delhi)

ITAT Delhi held that addition on account of unexplained money under section 69A of the Income Tax Act unjustified as revenue failed to prove that cash sales are fictitious/ bogus.

Facts- The assessee is an electrical goods trader. The return of the assessee was filed on 31.10.2017 declaring income of Rs.4,700/-. The case was scrutinized and the consequential assessment was completed at income of Rs.65,58,040/- u/s. 143(3) of the Income Tax Act, 1961. AO held the cash sales aggregating to Rs.65,53,340/- deposited in the

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