https://www.taxtmi.com/caselaws?id=215349 The ITAT upheld the decision of the Ld. CIT(A) to delete the addition made under Section 68 of the I.T. Act, 1961. The ITAT found that the cash deposits in the bank account were used for paying premiums for insurance policies of investors, with no personal expenditure by the assessee. The ITAT determined that the Revenue failed to provide evidence to discredit the explanation provided by the assessee, leading to the dismissal of the Revenue's appeal. en-us Fri, 06 Jul 2012 00:00:00 +0530 Tue, 31 Jul 2012 18:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215349 The ITAT upheld the decision of the Ld. CIT(A) to delete the addition made under Section 68 of the I.T. Act, 1961. The ITAT found that the cash deposits in the bank account were used for paying premiums for insurance policies of investors, with no personal expenditure by the assessee. The ITAT determined that the Revenue failed to provide evidence to discredit the explanation provided by the assessee, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 06 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215349