https://www.taxtmi.com/caselaws?id=266190 The Tribunal held that the addition of unexplained cash credit under section 68 of the Income Tax Act was not justified as the assessee provided sufficient evidence and explanations for the cash deposits, which were supported by cash flow statements. The Tribunal found the explanations to be bona fide and directed the Assessing Officer to delete the addition. As the Tribunal granted relief on the merits, the issue of limitation regarding the assessment order was not addressed, resulting in the appeal being partly allowed and the addition of &8377;19,39,790 being deleted. en-us Wed, 19 Aug 2015 00:00:00 +0530 Sun, 18 Oct 2015 17:44:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266190 The Tribunal held that the addition of unexplained cash credit under section 68 of the Income Tax Act was not justified as the assessee provided sufficient evidence and explanations for the cash deposits, which were supported by cash flow statements. The Tribunal found the explanations to be bona fide and directed the Assessing Officer to delete the addition. As the Tribunal granted relief on the merits, the issue of limitation regarding the assessment order was not addressed, resulting in the appeal being partly allowed and the addition of &8377;19,39,790 being deleted. Case-Laws Income Tax Wed, 19 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266190