https://www.taxtmi.com/caselaws?id=362976 The Tribunal upheld the deletion of the addition of Rs. 49 lacs under Section 68 of the Income Tax Act, 1961, ruling that the cash deposits belonged to the assessee's father, Sadhu Singh, based on sufficient evidence presented. The onus to prove the source of the amount credited in the bank account was deemed discharged by the assessee. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision and noting that the issue of Rs. 1 lac deposited in the HDFC Bank account was not part of the appeal. en-us Fri, 29 Jun 2018 00:00:00 +0530 Fri, 06 Jul 2018 08:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362976 The Tribunal upheld the deletion of the addition of Rs. 49 lacs under Section 68 of the Income Tax Act, 1961, ruling that the cash deposits belonged to the assessee's father, Sadhu Singh, based on sufficient evidence presented. The onus to prove the source of the amount credited in the bank account was deemed discharged by the assessee. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision and noting that the issue of Rs. 1 lac deposited in the HDFC Bank account was not part of the appeal. Case-Laws Income Tax Fri, 29 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362976