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ITAT set aside CIT(A)'s order confirming addition of unexplained cash deposits by assessee-society registered under Societies Registration Act. Society claimed deposits originated from toddy sale proceeds through four cooperative societies operating licensed toddy shops around Hyderabad for welfare of backward communities. Society furnished audit reports, minutes books, and monthly receipt-payment accounts of four societies as evidence. ITAT noted societies operated without bank accounts, transferring surplus cash to assessee-society for deposit. Since additional evidence was not presented before AO and CIT(A), matter remanded to AO for re-examination. AO directed to delete addition if assessee proves source through books of accounts and evidence from four Toddy Tappers Cooperative Societies. Appeal allowed for statistical purposes.
ITAT set aside CIT(A)'s order confirming addition of unexplained cash deposits by assessee-society registered under Societies Registration Act. Society claimed deposits originated from toddy sale proceeds through four cooperative societies operating licensed toddy shops around Hyderabad for welfare of backward communities. Society furnished audit reports, minutes books, and monthly receipt-payment accounts of four societies as evidence. ITAT noted societies operated without bank accounts, transferring surplus cash to assessee-society for deposit. Since additional evidence was not presented before AO and CIT(A), matter remanded to AO for re-examination. AO directed to delete addition if assessee proves source through books of accounts and evidence from four Toddy Tappers Cooperative Societies. Appeal allowed for statistical purposes.
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