Shanti Prime Publication Pvt. Ltd.
Sec. 68 of Income Tax Act, 1961—Cash Credit — There was no transaction of sales as well and neither these amounts were refunded to the parties and the CIT(A) submitted that the assessee failed to submit the confirmation certificate from the parties either at the assessment stage or at the appellate stage, thus, the CIT(A) confirmed the additions and it was found that the said sum has already been offered to tax. Since the assessee has already paid tax on the said amount in subsequent year, this addition does not survive — ULTIMATE FLEXIPACK LTD. Vs. DEPUTY CIT [2020] 78 ITR (TRIB) 410 (ITAT-DELHI)