[aaykarbhavan] Genuine sale advances weren't unexplained cash credits merely if cash balance wasn't found on respective dates

Genuine sale advances weren't unexplained cash credits merely if cash balance wasn't found on respective dates

March 28, 2014[2014] 42 taxmann.com 506 (Kerala)

IT : Where Assessing Officer made a lump sum addition in income of assessee on ground that it had accounted sale advances on various dates, but it did not have sufficient cash and Commissioner (Appeals) admitting additional evidence allowed appeal of assessee, Tribunal was justified in remanding matter to Assessing Officer to appreciate entire issue afresh

 

Regards

Prarthana Jalan

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