Sale of CWO proved and recorded as Income in Books of Account: ITAT deletes Addition on alleged Non genuine Purchase [Read Order]

Sale - Sale of CWO - CWO - Income - Books of Account - ITAT - genuine Purchase - Cotton Wash Oil - Taxscan

The Income Tax Appellate Tribunal ( ITAT ), Ahmedabad Bench deleted addition on the ground of alleged non-genuine purchase as the sale of Cotton Wash Oil (CWO) was proved and recorded as income in books of account. The appeal is relating to the addition of Rs.59.70 crores made by the Assessing Officer and confirmed by…

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