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TMI Blog2023 (12) TMI 1426X X X X Extracts X X X X X X X X Extracts X X X X ..... : Shri Vivek Vardhan, Sr. DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER:- This appeal by the Revenue is preferred against the order of the CIT[A]- 27, New Delhi dated 28.02.2023 pertaining to Assessment Year 2017-18. 2. The sum and substance of the grievance of the Revenue is that the ld. CIT(A) erred in deleting the addition of Rs. 1,59,26,716/- on account of cash sales during the demoneti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 1,54,00,000/- in other denomination notes during the demonetization period, The Assessing Officer further observed that there is an increase in cash sales of more than 68% in F.Y. 2016-17 as compared to F.Y. 2015-16. 5. After perusing the month-wise details of cash sales, vis a vis cash deposits, the Assessing Officer came to the conclusion that cash deposited by the assessee during the demone ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... went on to treat the excess amount of Rs. 1,59,26,716/- as unexplained and made addition of the same u/s 68 of the Act. 8. We are of the considered view that the mathematical calculation of the Assessing Officer is simple mathematics and has nothing to do with the actual figures recorded in the books of account during the year under consideration and also in the preceding year. 9. It is importan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... always more than Rs. 20 lakhs per day which went as high as Rs. 45.55 lakhs. The total sales from 28.08.2016 to 03.09.2016 is Rs. 1,30,42,002/- which means that cash sales of 8 days are more than cash sales from 01.011.2016 to 08.11.2016. Therefore, it can be safely concluded that there is nothing unusual in the cash sales during 01.11.2016 and 08.11.2016. 11. Nowhere in the assessment order the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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