https://www.taxtmi.com/caselaws?id=424273 The Tribunal allowed the appeal, overturning the addition of Rs. 94,50,000 as unexplained cash credit under section 68 of the Income Tax Act for Assessment Year 2017-18. The Tribunal found the cash deposit to be genuine, supported by audited accounts, and criticized the Assessing Officer for lack of evidence and violating principles of natural justice. The burden of proof was deemed not met by the revenue authorities, leading to the deletion of the addition. en-us Wed, 22 Jun 2022 00:00:00 +0530 Sat, 25 Jun 2022 09:20:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424273 The Tribunal allowed the appeal, overturning the addition of Rs. 94,50,000 as unexplained cash credit under section 68 of the Income Tax Act for Assessment Year 2017-18. The Tribunal found the cash deposit to be genuine, supported by audited accounts, and criticized the Assessing Officer for lack of evidence and violating principles of natural justice. The burden of proof was deemed not met by the revenue authorities, leading to the deletion of the addition. Case-Laws Income Tax Wed, 22 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424273