https://www.taxtmi.com/caselaws?id=247772 The ITAT overturned the Assessing Officer's addition of Rs. 22,06,672 related to cash sales, citing the genuineness of the transactions and lack of adverse evidence. It upheld the deletion of Rs. 30.26 lacs added due to cash seized, as the owners confirmed ownership. However, it disagreed with the deletion of Rs. 19,00,674 credited to the capital account, remanding the matter for further investigation to establish the source of the deposit. en-us Tue, 13 May 2014 00:00:00 +0530 Fri, 04 Mar 2016 15:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247772 The ITAT overturned the Assessing Officer's addition of Rs. 22,06,672 related to cash sales, citing the genuineness of the transactions and lack of adverse evidence. It upheld the deletion of Rs. 30.26 lacs added due to cash seized, as the owners confirmed ownership. However, it disagreed with the deletion of Rs. 19,00,674 credited to the capital account, remanding the matter for further investigation to establish the source of the deposit. Case-Laws Income Tax Tue, 13 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247772