PCIT v. Sandeep P. Shah (2021) 124 taxmann.com 206 (Guj.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Sandeep P. Shah (2021) 277 Taxman 395 (SC)

S. 68 : Cash credits-Bogus purchases-Trading in ferrous and non-ferrous metal-Stock register produced-Deletion of addition is held to be justified-No question of law. [S.260A]

Assessee was engaged in business of trading in ferrous and non-ferrous metal. The Assessing held that Rs. 66.76 lakhs as non-genuine. CIT (A) deleted the as submitting its stock register showing monthwise purchases and sales and also by submitting confirmations from parties to whom sales had been made along with their VAT registration.  Order of CIT (A) was affirmed by the Tribunal.  Appeal of the revenue was dismissed by the High Court. (AY. 2011-12)