https://www.taxtmi.com/caselaws?id=216840 The Revenue's appeals challenging the deletion of additions on account of unexplained cash credit in the assessee's bank account under Section 68 of the Income-tax Act, 1961 were partially allowed by the Tribunal. The Tribunal emphasized the assessee's failure to provide satisfactory explanations for the source of cash deposits, directing the issue back to the Assessing Officer for reevaluation. The onus was on the assessee to substantiate the source of cash deposited in bank accounts, requiring production of bank statements and client confirmation letters. The matter was remanded for further examination in accordance with the Tribunal's directives. en-us Mon, 09 Jul 2012 00:00:00 +0530 Sat, 22 Sep 2012 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216840 The Revenue's appeals challenging the deletion of additions on account of unexplained cash credit in the assessee's bank account under Section 68 of the Income-tax Act, 1961 were partially allowed by the Tribunal. The Tribunal emphasized the assessee's failure to provide satisfactory explanations for the source of cash deposits, directing the issue back to the Assessing Officer for reevaluation. The onus was on the assessee to substantiate the source of cash deposited in bank accounts, requiring production of bank statements and client confirmation letters. The matter was remanded for further examination in accordance with the Tribunal's directives. Case-Laws Income Tax Mon, 09 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216840