https://www.taxtmi.com/caselaws?id=397730 The ITAT Cuttack upheld the CIT(A)'s decision to delete additions made by the AO regarding cash deposits treated as gifts and trade receipts. The tribunal stressed the need to establish transaction genuineness and adhere to tax laws. The appeal was dismissed due to the low tax effect, aligning with CBDT Circular No.17/2019. en-us Tue, 25 Aug 2020 00:00:00 +0530 Wed, 26 Aug 2020 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397730 The ITAT Cuttack upheld the CIT(A)'s decision to delete additions made by the AO regarding cash deposits treated as gifts and trade receipts. The tribunal stressed the need to establish transaction genuineness and adhere to tax laws. The appeal was dismissed due to the low tax effect, aligning with CBDT Circular No.17/2019. Case-Laws Income Tax Tue, 25 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397730