https://www.taxtmi.com/caselaws?id=218398 The Tribunal allowed the appeal, ruling in favor of deleting the addition made under Section 68 of the Income Tax Act regarding the opening cash balance. The Tribunal considered the age and business history of the assessee, along with the consistent filing of tax returns, as supporting the credibility of the accumulated balance. Despite the lack of maintained account books in prior years, the Tribunal found the addition unjustified and deemed it unwarranted, leading to its deletion and the allowance of the assessee's appeal. en-us Fri, 05 Oct 2012 00:00:00 +0530 Fri, 02 Nov 2012 13:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218398 The Tribunal allowed the appeal, ruling in favor of deleting the addition made under Section 68 of the Income Tax Act regarding the opening cash balance. The Tribunal considered the age and business history of the assessee, along with the consistent filing of tax returns, as supporting the credibility of the accumulated balance. Despite the lack of maintained account books in prior years, the Tribunal found the addition unjustified and deemed it unwarranted, leading to its deletion and the allowance of the assessee's appeal. Case-Laws Income Tax Fri, 05 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218398