https://www.taxtmi.com/caselaws?id=409775 The Tribunal remitted the case back to the Assessing Officer as neither the assessee nor Mr. Prasanth adequately explained the source of the cash deposits under Section 68 of the Income Tax Act. Due to contradictory statements and lack of evidence, the Tribunal instructed a fresh examination by the AO, allowing both parties to present evidence for a new determination. The appeal was partly allowed for statistical purposes, and the case was remitted for further review. en-us Tue, 06 Jul 2021 00:00:00 +0530 Fri, 16 Jul 2021 08:26:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409775 The Tribunal remitted the case back to the Assessing Officer as neither the assessee nor Mr. Prasanth adequately explained the source of the cash deposits under Section 68 of the Income Tax Act. Due to contradictory statements and lack of evidence, the Tribunal instructed a fresh examination by the AO, allowing both parties to present evidence for a new determination. The appeal was partly allowed for statistical purposes, and the case was remitted for further review. Case-Laws Income Tax Tue, 06 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409775