https://www.taxtmi.com/caselaws?id=242007 The Tribunal dismissed the Revenue's appeal and upheld the deletion of the addition for unexplained cash credit under section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had provided a satisfactory explanation for the cash balance through entries in the books, including excise duty payments, withdrawals, and deposits. Therefore, as the cash balance was adequately explained, section 68 was deemed inapplicable, resulting in the deletion of the addition. en-us Thu, 19 Dec 2013 00:00:00 +0530 Mon, 06 Jan 2014 06:21:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242007 The Tribunal dismissed the Revenue's appeal and upheld the deletion of the addition for unexplained cash credit under section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had provided a satisfactory explanation for the cash balance through entries in the books, including excise duty payments, withdrawals, and deposits. Therefore, as the cash balance was adequately explained, section 68 was deemed inapplicable, resulting in the deletion of the addition. Case-Laws Income Tax Thu, 19 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242007