https://www.taxtmi.com/caselaws?id=412867 The Tribunal allowed the appeal, ruling that additions under Section 68 for unexplained cash deposits in the bank account were unsustainable. It held that Section 68 pertains to credits in the books of accounts, not bank deposits. The Tribunal emphasized that bank deposits should be assessed under Section 69, not Section 68, citing precedents. The additions made by the Assessing Officer were deemed incorrect and deleted. en-us Thu, 23 Sep 2021 00:00:00 +0530 Wed, 29 Sep 2021 11:03:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412867 The Tribunal allowed the appeal, ruling that additions under Section 68 for unexplained cash deposits in the bank account were unsustainable. It held that Section 68 pertains to credits in the books of accounts, not bank deposits. The Tribunal emphasized that bank deposits should be assessed under Section 69, not Section 68, citing precedents. The additions made by the Assessing Officer were deemed incorrect and deleted. Case-Laws Income Tax Thu, 23 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412867