https://www.taxtmi.com/caselaws?id=214770 The Appellate Tribunal upheld the CIT (A)'s decision to delete the addition under section 68 of the Income-tax Act, 1961, in a case where cash was deposited in the assessee's bank account. The Tribunal found the explanations provided by the assessee regarding the source of the cash deposits to be genuine and well-supported by evidence, including bank records and transaction details. Despite challenges raised by the revenue, the Tribunal concluded that the revenue failed to provide evidence to refute the explanations given by the assessee, ultimately dismissing the revenue's appeal. en-us Thu, 28 Jun 2012 00:00:00 +0530 Tue, 10 Jul 2012 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214770 The Appellate Tribunal upheld the CIT (A)'s decision to delete the addition under section 68 of the Income-tax Act, 1961, in a case where cash was deposited in the assessee's bank account. The Tribunal found the explanations provided by the assessee regarding the source of the cash deposits to be genuine and well-supported by evidence, including bank records and transaction details. Despite challenges raised by the revenue, the Tribunal concluded that the revenue failed to provide evidence to refute the explanations given by the assessee, ultimately dismissing the revenue's appeal. Case-Laws Income Tax Thu, 28 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214770