https://www.taxtmi.com/caselaws?id=266620 The ITAT upheld the CIT(A) decision in the appeal against the assessment order for A.Y. 2009-2010. The issue centered on unexplained cash deposits exceeding gross receipts in the Assessee's bank account under section 68 of the Income Tax Act. The CIT(A) accepted the Assessee's explanations, attributing cash deposits to retail business sales proceeds and legitimate agricultural income. The ITAT affirmed the deletion of the Rs. 36,60,000 addition, dismissing the Revenue's appeal due to the Assessee's satisfactory evidence-backed explanations aligning with business practices. en-us Fri, 28 Aug 2015 00:00:00 +0530 Thu, 22 Oct 2015 15:05:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266620 The ITAT upheld the CIT(A) decision in the appeal against the assessment order for A.Y. 2009-2010. The issue centered on unexplained cash deposits exceeding gross receipts in the Assessee's bank account under section 68 of the Income Tax Act. The CIT(A) accepted the Assessee's explanations, attributing cash deposits to retail business sales proceeds and legitimate agricultural income. The ITAT affirmed the deletion of the Rs. 36,60,000 addition, dismissing the Revenue's appeal due to the Assessee's satisfactory evidence-backed explanations aligning with business practices. Case-Laws Income Tax Fri, 28 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266620