Case Law Analysis
|Income Tax Appellate Tribunal
Section 115BBE IT Act | Recorded Cash Sales Taxable at 30%, Not 60%, If Not Falling Under Sections 68-69D: ITAT Delhi
ITAT Delhi clarifies that income from cash sales properly recorded in books and supported by invoices/GST returns cannot be taxed at the punitive 60% rate under Section 115BBE. The 30% tax rate applies unless the income falls under unexplained credits (Sections 68-69D), offering relief to businesses with documented cash transactions.