Addition of Unaccounted Sales is not sustained in absence of Cogent Material: ITAT [Read Order]

unaccounted sales - cogent material - ITAT - taxscan

The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition of unaccounted sales is not sustained in the absence of cogent material. Sri GVN Hari represented the assessee and Sri MN Murthy Naik represented the revenue. The assessee is a partnership firm engaged in the business of running a jewellery…

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