https://www.taxtmi.com/caselaws?id=430355 The ITAT partially allowed the appeal, directing the deletion of the addition of Rs. 7,65,000/- made by the Assessing Officer under section 69A r.w.s 115BBE of the Act. The ITAT found that the cash deposits were adequately explained by the assessee through documentary evidence, including the cashbook and cash flow statement. Emphasizing the importance of valid reasons for rejecting explanations, the ITAT concluded that the authorities had no merit in sustaining the addition and ordered its deletion. en-us Tue, 15 Nov 2022 00:00:00 +0530 Wed, 16 Nov 2022 15:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430355 The ITAT partially allowed the appeal, directing the deletion of the addition of Rs. 7,65,000/- made by the Assessing Officer under section 69A r.w.s 115BBE of the Act. The ITAT found that the cash deposits were adequately explained by the assessee through documentary evidence, including the cashbook and cash flow statement. Emphasizing the importance of valid reasons for rejecting explanations, the ITAT concluded that the authorities had no merit in sustaining the addition and ordered its deletion. Case-Laws Income Tax Tue, 15 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430355