https://www.taxtmi.com/caselaws?id=394278 The ITAT partly allowed the Revenue's appeal by setting aside the CIT(A)'s decision to delete the addition of Rs. 73,50,000 made by the AO under section 68 of the Income Tax Act for unexplained cash credits. The ITAT directed further assessment to determine the tax liability on the undisclosed business receipts, emphasizing the need for the assessee to prove the genuineness of the cash receipts despite matching transactions. en-us Tue, 16 Jul 2019 00:00:00 +0530 Tue, 07 Apr 2020 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394278 The ITAT partly allowed the Revenue's appeal by setting aside the CIT(A)'s decision to delete the addition of Rs. 73,50,000 made by the AO under section 68 of the Income Tax Act for unexplained cash credits. The ITAT directed further assessment to determine the tax liability on the undisclosed business receipts, emphasizing the need for the assessee to prove the genuineness of the cash receipts despite matching transactions. Case-Laws Income Tax Tue, 16 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394278