https://www.taxtmi.com/caselaws?id=277731 The tribunal allowed the appeal challenging the correctness of the CIT(A)'s order under section 143(3) of the Income Tax Act for the assessment year 2008-09. The delay in filing the appeal was condoned, and the tribunal directed the Assessing Officer to delete the portion of the cash deposit treated as an unexplained cash credit under section 68 of the IT Act. The tribunal relied on a judicial precedent regarding the treatment of bank accounts for assessment purposes, concluding that the addition based on treating the bank account as books of account was not legally sustainable. en-us Thu, 19 Apr 2018 00:00:00 +0530 Thu, 20 Dec 2018 05:56:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277731 The tribunal allowed the appeal challenging the correctness of the CIT(A)'s order under section 143(3) of the Income Tax Act for the assessment year 2008-09. The delay in filing the appeal was condoned, and the tribunal directed the Assessing Officer to delete the portion of the cash deposit treated as an unexplained cash credit under section 68 of the IT Act. The tribunal relied on a judicial precedent regarding the treatment of bank accounts for assessment purposes, concluding that the addition based on treating the bank account as books of account was not legally sustainable. Case-Laws Income Tax Thu, 19 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277731