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2022 (4) TMI 1277 - AT - Income TaxUnexplained cash deposits in the bank of the assessee including the period of demonetization - HELD THAT:- Undisputed fact that on the aforesaid sales, VAT as per the applicable rates has been paid by the assessee and the payment of VAT is also reflected in the VAT returns filed by the assessee with the Department of Trade and Tax, Government of Delhi. Before us Revenue has not placed any material on record to demonstrate that the details of cash sales filed by the assessee are fictitious or bogus. Revenue has also not placed any material on record to demonstrate that the VAT return filed by the assessee before the Appropriate Authorities have been rejected by the Authorities. It is also a fact that the assessee is having only one source of income which is also not in dispute. The purchase of goods from which the alleged sales have been made by the assessee has also not been rejected by the Revenue. I find that the Bangalore Bench of the Tribunal, on similar facts, in the case of Anantpur Kalpana, Gangavathi, Karnataka [2021 (12) TMI 599 - ITAT BANGALORE] and M/s. Hirapanna Jewellers, Visakhapatnam [2021 (5) TMI 447 - ITAT VISAKHAPATNAM] has held that when the sales have been accepted as revenue receipt, the same could not have been again added as income. We find the issue in the present case is also covered by the aforesaid two decisions relied on the assessee. In such circumstances and in absence of any contrary material brought on record by the Department, in the present case no addition is called for - therefore, direct for deletion of the addition made by A.O. and upheld by the Ld. CIT(A). Thus, the ground raised by the assessee is allowed.
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