{"id":60920,"date":"2026-06-18T12:52:52","date_gmt":"2026-06-18T07:22:52","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ayesha-steels-p-ltd-v-ito-2025-213-itd-495-delhi-trib\/"},"modified":"2026-06-18T12:52:52","modified_gmt":"2026-06-18T07:22:52","slug":"ayesha-steels-p-ltd-v-ito-2025-213-itd-495-delhi-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ayesha-steels-p-ltd-v-ito-2025-213-itd-495-delhi-trib\/","title":{"rendered":"Ayesha Steels (P.) Ltd. v. ITO (2025) 213 ITD 495 (Delhi) (Trib.)"},"content":{"rendered":"<p><strong>\u00a0<\/strong><\/p>\n<p>Assessee, scrap dealer, had deposited a certain amount of cash in its bank account during demonetization period. Assessing Officer made an addition under section 68 to assessee&#8217;s income on account of said cash deposits. CIT(A) affirmed the addition. On appeal, the Tribunal held that the assessee had provided various documents to substantiate cash sales recorded by it and no discrepancies or defects had been pointed out in the same; the\u00a0 Assessing Officer had not pointed out any discrepancy in various documents submitted by the assessee to substantiate its cash sales even during the course of remand proceedings. Since the addition was made only based on surmises and conjectures without any adverse material or independent enquiry made by lower authorities, the addition was deleted. (AY. 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits-Cash deposit-Demonetization-Cash sales-No discrepancy in the books of account-Additions deleted. <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-60920","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fQA","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=60920"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60920\/revisions"}],"predecessor-version":[{"id":60921,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60920\/revisions\/60921"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=60920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=60920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=60920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}