https://www.taxtmi.com/caselaws?id=239783 The Tribunal allowed the Revenue's appeal against the deletion of an addition under section 68 of the Income Tax Act by the Commissioner of Income Tax (Appeals). The Tribunal emphasized the importance of considering the assessee's books of accounts for explaining the nature and source of cash deposits, clarifying that bank deposits could be taxed under different sections. The matter was remanded back to the Assessing Officer for factual examination and verification, providing the assessee with an opportunity for a hearing. en-us Thu, 31 Oct 2013 00:00:00 +0530 Fri, 22 Nov 2013 06:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239783 The Tribunal allowed the Revenue's appeal against the deletion of an addition under section 68 of the Income Tax Act by the Commissioner of Income Tax (Appeals). The Tribunal emphasized the importance of considering the assessee's books of accounts for explaining the nature and source of cash deposits, clarifying that bank deposits could be taxed under different sections. The matter was remanded back to the Assessing Officer for factual examination and verification, providing the assessee with an opportunity for a hearing. Case-Laws Income Tax Thu, 31 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239783