https://www.taxtmi.com/caselaws?id=430306 The tribunal allowed the appeal of the assessee, ruling that the addition of Rs. 9,00,000 as unexplained cash deposits in the bank account was unjustified. The tribunal held that the Assessing Officer wrongly applied section 69A instead of section 68 without allowing the assessee to explain, leading to the deletion of the addition. The challenge to the validity of reopening the assessment under section 147 was not pursued by the assessee during the appeal, resulting in its dismissal by the tribunal. en-us Mon, 14 Nov 2022 00:00:00 +0530 Wed, 16 Nov 2022 08:59:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430306 The tribunal allowed the appeal of the assessee, ruling that the addition of Rs. 9,00,000 as unexplained cash deposits in the bank account was unjustified. The tribunal held that the Assessing Officer wrongly applied section 69A instead of section 68 without allowing the assessee to explain, leading to the deletion of the addition. The challenge to the validity of reopening the assessment under section 147 was not pursued by the assessee during the appeal, resulting in its dismissal by the tribunal. Case-Laws Income Tax Mon, 14 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430306