https://www.taxtmi.com/caselaws?id=68485 The ITAT Jodhpur disposed of appeals concerning the assessment year 1992-93, involving a contractor's income assessment. The AO's rejection of the books and addition of unexplained cash credits were contested. The Tribunal found the cash credits genuine, supported by confirmations and affidavits, and established creditor creditworthiness. It upheld the CIT(A)'s decision to allow set-offs against unexplained credits, referencing legal precedents. Consequently, the Tribunal deleted the additions, allowing the assessee's appeal and dismissing the Revenue's appeal. en-us Wed, 10 Sep 2003 00:00:00 +0530 Fri, 09 Aug 2024 14:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68485 The ITAT Jodhpur disposed of appeals concerning the assessment year 1992-93, involving a contractor's income assessment. The AO's rejection of the books and addition of unexplained cash credits were contested. The Tribunal found the cash credits genuine, supported by confirmations and affidavits, and established creditor creditworthiness. It upheld the CIT(A)'s decision to allow set-offs against unexplained credits, referencing legal precedents. Consequently, the Tribunal deleted the additions, allowing the assessee's appeal and dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 10 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68485