https://www.taxtmi.com/caselaws?id=362402 The Tribunal allowed the assessee's appeal, directing the AO to delete the addition of unexplained cash credits in the bank account. The Tribunal found the explanations provided by the assessee regarding traveler cheques and funds from the NRE account to be valid, concluding that the AO failed to establish unexplained investments. The CIT(A) was criticized for rejecting valid evidence and incorrectly applying Section 69 instead of Section 68. The decision was pronounced by the ITAT Hyderabad on 22nd June 2018. en-us Fri, 22 Jun 2018 00:00:00 +0530 Mon, 25 Jun 2018 09:01:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362402 The Tribunal allowed the assessee's appeal, directing the AO to delete the addition of unexplained cash credits in the bank account. The Tribunal found the explanations provided by the assessee regarding traveler cheques and funds from the NRE account to be valid, concluding that the AO failed to establish unexplained investments. The CIT(A) was criticized for rejecting valid evidence and incorrectly applying Section 69 instead of Section 68. The decision was pronounced by the ITAT Hyderabad on 22nd June 2018. Case-Laws Income Tax Fri, 22 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362402