Smt. Reema Harish Bhatia, Kota vs Deputy Commissioner Of Income Tax. ... on 25 April, 2019
231 Taxman 260 (Kar. HC)
M/s. KG Petrochem Ltd. vs. ACIT
2016 ITL 1457 (Jaipur Trib.)
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1 - 2 of 2 (0.60 seconds)Ashok Nariyani,Jaipur vs Acit, Circle-5, Jaipur on 15 September, 2025
"9. In view of the foregoing discussion and taking into consideration of all the facts and
the circumstances of the case, we have no hesitation to hold that the cash receipts
represent the sales which the assessee has rightly offered for taxation. We have gone
through the trading account and find that there was sufficient stock to effect the sales
and we do not find any defect in the stock as well as the sales. Since, the assessee has
already admitted the sales as revenue receipt, there is no case for making the addition u/s
68 or tax the same u/s 115BBE again. This view is also supported by the decision of
Hon'ble Delhi High Court in the case of Kailash Jewellery House (Supra) and the
Hon'ble Gujarat High Court in the case of Vishal Exports Overseas Ltd. (supra), Hence,
we do not see any reason to interfere with the order of the Ld.CIT(A) and the same is
upheld.
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