https://www.taxtmi.com/caselaws?id=354920 The tribunal upheld the Ld. CIT(A)'s decision to delete the addition of Rs. 75,00,000 as unexplained credit in the assessee's books. The excess credit balance was due to a posting error rectified in the subsequent financial year, with no revenue impact. The tribunal found the explanation satisfactory, emphasizing that the addition was unjustified as it did not lead to any cash inflow or income for the assessee. The appeal by the revenue was dismissed, affirming the deletion of the addition. en-us Thu, 21 Dec 2017 00:00:00 +0530 Wed, 07 Feb 2018 08:21:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354920 The tribunal upheld the Ld. CIT(A)'s decision to delete the addition of Rs. 75,00,000 as unexplained credit in the assessee's books. The excess credit balance was due to a posting error rectified in the subsequent financial year, with no revenue impact. The tribunal found the explanation satisfactory, emphasizing that the addition was unjustified as it did not lead to any cash inflow or income for the assessee. The appeal by the revenue was dismissed, affirming the deletion of the addition. Case-Laws Income Tax Thu, 21 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354920