VAT-Accepted Turnover Can’t Be Retaxed as Unexplained Cash

Advertisement KDJP Steels Private Limited Vs National Faceless Appeal Centre (Delhi High Court) Suspicion Is Not Evidence- Cash Sales During Demonetisation Cannot Be Branded as Unexplained: Delhi ITAT Deletes ₹48 Lakh Addition- Books Accepted, VAT Turnover Accepted—69A Cannot Be Invoked: ITAT Delhi Rules in Favour of Assessee deleted addition of ₹48 lakh made on account of cash deposits during demonetisation, holding that cash deposited out of recorded cash sales cannot be treated as unexplained u/s 69A when books of account are accepted. Assessee, engaged in trading of iron & st...