DEPUTY COMMISSIONER OF INCOME TAX, MADURAI vs. M/S. STANDARD FIREWORKS PRIVATE LIMITED, SIVAKASI, TAMILNADU

In the result, appeals filed by the Revenue and Cross-Objections

Bench: Shri Aby T. Varkey & Shri Jagadish

Section 12A registered organization which was also added by the AO. The Ld.CIT(A) noted that all the records including the audited financials and data from the computerized register maintained in its Oracle software were retrieved by the Investigation Team and was before the AO while he was scrutinizing the assessment which resulted in additions made

DEPUTY COMMISSIONER OF INCOME-TAX, MADURAI vs. STANDARD FIREWORKS PRIVATE LIMITED, SIVAKASI, TAMILNADU

In the result, appeals filed by the Revenue and Cross-Objections\nfiled by the assessee are dismissed

Section 12A registered\norganization which was also added by the AO. The Ld.CIT(A) noted that\nall the records including the audited financials and data from the\ncomputerized register maintained in its Oracle software were retrieved by\nthe Investigation Team and was before the AO while he was scrutinizing\nthe assessment which resulted in additions made

MICKY FIREWORKS INDUSTRIES,SIVAKASI vs. ACIT NON CORPORATE CIRCLE 2, MADURAI

The appeal stands allowed in terms of our above order

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.264/Chny/2023 (िनधा*रण वष* / Assessment Year: 2017-18) M/S. Micky Fireworks Industries Acit बनाम 74, Velayutham Road, Non-Corporate Circle-2, / Vs. Sivakasi-626 123. Madurai. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaqfm-1108-B (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri V. Rajasekaran (Ca) - Ld.Ar " थ"कीओरसे/Respondent By : Shri D. Hema Bhupal (Jcit)- Ld. Sr. Dr सुनवाईकीतारीख/Date Of Hearing : 13-07-2023 घोषणाकीतारीख /Date Of Pronouncement : 26-07-2023 आदेश / O R D E R

12A, Perumal Konar Street, VPC Nagar, Coimbatore South, Coimbatore. (ITA No.527 /Chny/2022). As is evident, the assessee is aggrieved by confirmation of addition of Rs.118.23 Lacs u/s 68 which represent cash deposited by assessee during demonetization period. 2. Supporting the case of the assessee, Ld. Ld. AR submitted that the assessee is engaged in fireworks and made substantial sales during