https://www.taxtmi.com/caselaws?id=420785 The Tribunal set aside the order of the CIT(A), NFAC, and directed the A.O. to delete the addition of Rs. 39,60,000 under Section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had provided adequate documentation to support the cash deposits, which were deemed to be sale proceeds and realization from debtors. The Tribunal held that the A.O. did not present any material evidence to refute the assessee's claims, leading to the allowance of the assessee's appeal. en-us Wed, 06 Apr 2022 00:00:00 +0530 Sat, 09 Apr 2022 07:55:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420785 The Tribunal set aside the order of the CIT(A), NFAC, and directed the A.O. to delete the addition of Rs. 39,60,000 under Section 68 of the Income Tax Act, 1961. The Tribunal found that the assessee had provided adequate documentation to support the cash deposits, which were deemed to be sale proceeds and realization from debtors. The Tribunal held that the A.O. did not present any material evidence to refute the assessee's claims, leading to the allowance of the assessee's appeal. Case-Laws Income Tax Wed, 06 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420785