https://www.taxtmi.com/caselaws?id=239637 The Tribunal ruled in favor of the Assessee, concluding that the provisions of section 68 did not apply to the trade recoveries made during the year. The Tribunal found that the cash deposits were trade receipts from debt recoveries supported by evidence in the books, not unexplained income. The addition of Rs. 2,75,97,214/- towards unexplained cash credit was deleted, and the Assessee's appeal was allowed. en-us Wed, 13 Nov 2013 00:00:00 +0530 Mon, 18 Nov 2013 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239637 The Tribunal ruled in favor of the Assessee, concluding that the provisions of section 68 did not apply to the trade recoveries made during the year. The Tribunal found that the cash deposits were trade receipts from debt recoveries supported by evidence in the books, not unexplained income. The addition of Rs. 2,75,97,214/- towards unexplained cash credit was deleted, and the Assessee's appeal was allowed. Case-Laws Income Tax Wed, 13 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239637