S. 68:Cash credits-Demonetisation-Jewellery/gold cash sales-Cash deposited during dem`onetisation-Assessee provided PAN and complete address of buyers, with stock register-Lack of inquiry by AO u/s. 131 or 133(6)-Held that addition ought to be deleted as nothing proved against assessee.[S. 131,133(6)]
S. 68 : Cash credits-Demonetisation-Large Cash deposited during demonetization period-Assessee claimed that cash deposited from sale proceeds. Bill wise details submitted, books of accounts accepted, each sale bill less than Rs. 2 Lakhs. Addition cannot be made merely because bills did not contain name of customers. Addition is deleted .[S.115BBE]
S. 68 : Cash credits-No discovery of incriminating material-Assessment on basis of third-party statement-Addition is deleted. [S. 132]
S. 68: Cash credits-Cash sales-Trade advances-Addition made on mere conjectures and surmises-Unsustainable.
S. 68 : Cash credits-Bogus expenses-Un accounted monies-Sub-contractor-Job work-Shown 8% of the receipts-Addition is deleted-[S. 115BBE,132]
S. 68 : Cash credits-Bogus long-term capital gain-Commmission-Accomodation entries-Sale of shares-Admission by third parties-Report from investigation wing-Neither the statement nor an opportunity cross examination was not given-Deletion of addition by CIT(A) is affirmed.[S. 10(38), 45, 131, 132(4)]
S. 68 : Cash credits-Unsecured loans and advances-On failure to substantiate with evidence and on failure to make representation, the order of the CIT(A) confirming the addition made by the A.O. u/s. 68 of the Act and deleting the protective addition was upheld by the Tribunal.[S.69A,133(6)]
S. 68 : Cash credits-Demmonetisation-Cash sales-Cash deposited during demonetisation period-Books of account not rejected-Deletion of addition is affirmed.[S.115BBE]
S. 68 : Cash credits-No addition can be made on account of cash deposits, if the AO cannot prove why the explanations offered by assessee are incorrect.
S. 68 : Cash credits-Unexplained money-Cash deposit during demonetisation-Cash sales-Books of accounts accepted-No defect pointed out-Deletion of addition is valid.[S.115BBE]