https://www.taxtmi.com/caselaws?id=397649 The Tribunal allowed the appeal, setting aside the CIT(A)'s order and deleting the addition made by the AO under Section 68 of the Income Tax Act. The Tribunal held that the deposits in question did not fall under Section 68 as they were not recorded in the assessee's books of accounts, directing that the correct provision for taxation was Section 69. The Tribunal admitted the additional ground raised by the assessee, ultimately ruling in favor of the assessee and pronouncing the appeal on 29th July 2020. en-us Wed, 29 Jul 2020 00:00:00 +0530 Tue, 25 Aug 2020 17:24:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397649 The Tribunal allowed the appeal, setting aside the CIT(A)'s order and deleting the addition made by the AO under Section 68 of the Income Tax Act. The Tribunal held that the deposits in question did not fall under Section 68 as they were not recorded in the assessee's books of accounts, directing that the correct provision for taxation was Section 69. The Tribunal admitted the additional ground raised by the assessee, ultimately ruling in favor of the assessee and pronouncing the appeal on 29th July 2020. Case-Laws Income Tax Wed, 29 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397649