https://www.taxtmi.com/caselaws?id=403360 The ITAT allowed the appeal for statistical purposes, emphasizing the importance of verifying the reconciliation statement to determine the accuracy of the addition under section 68 of the Income Tax Act, 1961. The decision aimed at ensuring a just assessment based on correct information and providing the assessee with a fair chance to address discrepancies in the cash flow statement. The ITAT set aside the CIT(A)'s decision and remanded the matter to the AO for proper verification of the reconciliation statement, highlighting the need for thorough examination before making additions under section 68. en-us Fri, 15 Jan 2021 00:00:00 +0530 Wed, 27 Jan 2021 14:46:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403360 The ITAT allowed the appeal for statistical purposes, emphasizing the importance of verifying the reconciliation statement to determine the accuracy of the addition under section 68 of the Income Tax Act, 1961. The decision aimed at ensuring a just assessment based on correct information and providing the assessee with a fair chance to address discrepancies in the cash flow statement. The ITAT set aside the CIT(A)'s decision and remanded the matter to the AO for proper verification of the reconciliation statement, highlighting the need for thorough examination before making additions under section 68. Case-Laws Income Tax Fri, 15 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403360