Absence of cogent material to prove Cash Transaction with respect to Purchase of Chemicals: ITAT directs readjudication [Read Order]

Cash Transaction - Purchase of Chemicals -ITAT - readjudication - TAXSCAN

The Delhi bench Income Tax Appellate Tribunal (ITAT) directed readjudication in absence of cogent material to prove the cash transactions with respect to purchase of chemicals .  The Assessee, Polyspin Filteration India Pvt. Ltd had made purchases of certain chemicals from M/s Krishna Enterprise to the tune of Rs 4,28,960/- during the year under consideration.The assessee…

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