https://www.taxtmi.com/caselaws?id=355016 The Assessing Officer added unexplained cash deposits to the assessee's income under section 68 of the Income Tax Act. The Commissioner of Income Tax (Appeals) confirmed the addition due to insufficient explanations. Claims regarding contra cash deposits, unsecured loans, and dishonored cheques were found discrepant. The order was modified to section 69A from section 68. The ITAT allowed the appeal for statistical purposes, emphasizing the need for a fair opportunity for the assessee. The case was remitted for reconsideration. en-us Wed, 07 Feb 2018 00:00:00 +0530 Thu, 08 Feb 2018 07:49:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355016 The Assessing Officer added unexplained cash deposits to the assessee's income under section 68 of the Income Tax Act. The Commissioner of Income Tax (Appeals) confirmed the addition due to insufficient explanations. Claims regarding contra cash deposits, unsecured loans, and dishonored cheques were found discrepant. The order was modified to section 69A from section 68. The ITAT allowed the appeal for statistical purposes, emphasizing the need for a fair opportunity for the assessee. The case was remitted for reconsideration. Case-Laws Income Tax Wed, 07 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355016