https://www.taxtmi.com/caselaws?id=209665 The ITAT Mumbai allowed both appeals related to the Assessment Year 2002-03. The first appeal regarding the addition of Rs.75,30,000/- was allowed as there was no basis for the addition under section 68 of the Income Tax Act. The second appeal concerning the cancellation of cheques issued by the assessee was also allowed based on similar reasoning. The ITAT's analysis led to the deletion of the additions made by the Assessing Officer and the CIT(A). en-us Wed, 04 Jan 2012 00:00:00 +0530 Sat, 04 Feb 2012 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209665 The ITAT Mumbai allowed both appeals related to the Assessment Year 2002-03. The first appeal regarding the addition of Rs.75,30,000/- was allowed as there was no basis for the addition under section 68 of the Income Tax Act. The second appeal concerning the cancellation of cheques issued by the assessee was also allowed based on similar reasoning. The ITAT's analysis led to the deletion of the additions made by the Assessing Officer and the CIT(A). Case-Laws Income Tax Wed, 04 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209665