ITAT Delhi Partly Allows Jeweller’s Appeal: ₹50 Lakh Bogus Sale Addition Upheld

Man Mohan Agarwal Vs DCIT (ITAT Delhi) ITAT Delhi Partly Allows Jeweller’s Appeal: Bogus Sale Addition Upheld, Relief on Cash & Stock- Cross-Examination Not Allowed, But Tribunal Confirms ₹50 Lakh Bogus Sale Addition Against Jeweller A search was carried out on the Assessee on 18.01.2017. He declared income of ₹17.75 lakh. AO, however, made additions aggregating more than ₹1.36 crore on account of bogus sales, unexplained cash, excess jewellery & silver stock, & lottery income. CIT(A) confirmed part of the additions. Tribunal examined each item of dispute in detail. With re...