Assessee was asked to explain the source of cash deposits of Rs. 69 lakhs in its bank account during relevant year. It was explained that the assessee had paid VAT on the sales made and reported the same in its books of account. AO dismissed the claim of sales and went on to make addition of income u/s 69A treating the deposits as income from undisclosed sources and computed the tax as per provisions of section 115BBE. The CIT(A) held that the amount of Rs. 69 lakhs is duly recorded in the books of account which were audited under various laws applicable and supported by credible evidence like copies of invoices, stock register maintained on a day to day basis, VAT returns filed from time to time and order of VAT authorities accepting the sales made by the assessee during the year under consideration. On appeal by Revenue, Tribunal affirmed the order of the CIT(A). (AY. 2017-18)