Dismissing the appeal of the revenue, the Tribunal held that the assessee has explained the difference in reconciliation statement due to custom duties paid. Order of CIT(A) deleting the addition was affirmed. (AY. 2010-11)
ACIT v. Nilkanth Concast (P.) Ltd. (2021) 191 ITD 73(Delhi)(Trib.)
S. 68 : Cash credits-Unproved purchases-Reconciliation statement was filed-Custom duties paid-No addition can be made. [S. 143(3)]