https://www.taxtmi.com/caselaws?id=419107 The Tribunal allowed the appeal, overturning the Commissioner of Income-tax (Appeals)'s decision to add Rs. 16,00,500 as unexplained cash deposit for AY 2017-18. The Tribunal found that the appellant adequately explained the cash deposit by demonstrating cash withdrawals exceeding the deposits, indicating a sufficient cash balance. Consequently, the Tribunal concluded that no addition was warranted under section 68 of the Income Tax Act, 1961, and deleted the amount from the assessment. en-us Fri, 25 Feb 2022 00:00:00 +0530 Thu, 03 Mar 2022 06:50:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419107 The Tribunal allowed the appeal, overturning the Commissioner of Income-tax (Appeals)'s decision to add Rs. 16,00,500 as unexplained cash deposit for AY 2017-18. The Tribunal found that the appellant adequately explained the cash deposit by demonstrating cash withdrawals exceeding the deposits, indicating a sufficient cash balance. Consequently, the Tribunal concluded that no addition was warranted under section 68 of the Income Tax Act, 1961, and deleted the amount from the assessment. Case-Laws Income Tax Fri, 25 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419107