TMI Blog2023 (12) TMI 1314X X X X Extracts X X X X X X X X Extracts X X X X ..... cases with preliminary suspicion of back dating of cash and is or fictitious sales. The instruction is also suggested some indicators for suspicion of back dating of cash else or fictitious sales where there is an abnormal jump in the cases during the period November to December 2016 as compared to earlier year. It also suggests that, abnormal jump in percentage of cash trails to on identifiable persons as compared to earlier histories will also give some indication for suspicion. Non-availability of stock or attempts to inflate stock by introducing fictitious purchases is also some indication for suspicion of fictitious sales. Transfer of deposit of cash to another account or entity, which is not in line with the earlier history. Therefor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant. The ld. CIT(A) erred in not discussing the submissions made by the appellant during the appellant proceedings. 5. The ld. CIT(A) ought to have appreciated the fact that the matter is duly covered by the judgement of the Hon ble jurisdictional Bengaluru ITAT in the case of Ananthpur Kalpana reported in 138 Taxmann.com 141 (2022). 6. The ld. CIT(A) erred in not appreciating the fact that the cash deposits were made out of the sales receipts and closing cash balance as on 8.11.2016, as demonstrated during the assessment proceedings and submissions made to the Hon. CIT(A). 7. The ld. CIT(A) ought to have considered that the assessee has already admitted the sales as revenue receipt, and therefore, there is no case for making the addi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is in appeal before us. 2.1 Before the lower authorities, assessee has furnished the monthwise opening cash in hand/cash sales receipts/cash deposit in bank/cash withdrawals from bank/closing cash on hand from April, 2015 to 8th Nov 15, between 9th Nov 15 till 8th Nov 16 and also for financial year 2016-17. This statement was overlooked by the lower authorities and made additions sustained by the NFAC/CIT(A). Against this assessee is in appeal before us. 3. We have heard the rival submissions and perused the materials available on record. Similar issue came for consideration before this Tribunal in the case of Bhoopalam Marketing Services Pvt. Ltd. in ITA No.375/Bang/2022 dated 15.9.2022 wherein held as under: 7. We have carefully consider ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s the books of accounts have been rejected or not where substantial evidences of vide variation be found between these statistical analyses. Therefore, it is very important to note that whether the case of the assessee falls into statistical analysis, which suggests that there is a booking of sales, which is non-existent and thereby unaccounted money of the assessee in old currency notes (SBN) have been pumped into as unaccounted money. 8.1 The instruction dated 21/02/2017 that the assessing officer basic relevant information e.g. monthly sales summary, relevant stock register entries and bank statement to identify cases with preliminary suspicion of back dating of cash and is or fictitious sales. The instruction is also suggested some indi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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