https://www.taxtmi.com/caselaws?id=9516 The High Court directed the Tribunal to reconsider the matter concerning the addition of cash credits to the income of the assessee under Section 68 of the Income-tax Act, emphasizing the need for a fresh examination of the explanation provided by the assessee. The Court highlighted that the Tribunal's rejection based on the immunity issue under the amnesty scheme, not claimed by the assessee, was not appropriate. Additionally, the Court noted that the interest paid on the deposits indicated the genuineness of the transactions. The Tribunal was instructed to re-evaluate the case, particularly focusing on a specific deposit and decide the issue afresh in favor of the assessee. en-us Mon, 11 Jul 2005 00:00:00 +0530 Tue, 23 Jun 2009 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9516 The High Court directed the Tribunal to reconsider the matter concerning the addition of cash credits to the income of the assessee under Section 68 of the Income-tax Act, emphasizing the need for a fresh examination of the explanation provided by the assessee. The Court highlighted that the Tribunal's rejection based on the immunity issue under the amnesty scheme, not claimed by the assessee, was not appropriate. Additionally, the Court noted that the interest paid on the deposits indicated the genuineness of the transactions. The Tribunal was instructed to re-evaluate the case, particularly focusing on a specific deposit and decide the issue afresh in favor of the assessee. Case-Laws Income Tax Mon, 11 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9516