https://www.taxtmi.com/caselaws?id=430773 The Tribunal upheld the CIT(A)'s decision to delete additions of Rs. 4,56,87,000/- and Rs. 2,82,00,000/- under section 68, ruling that these amounts constituted opening balances and could not be treated as unexplained cash credits. The Tribunal supported this conclusion with legal precedents and found no error in the CIT(A)'s judgment. Consequently, the Revenue's appeal was dismissed, affirming the deletion of the additions. en-us Mon, 07 Nov 2022 00:00:00 +0530 Mon, 28 Nov 2022 10:49:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430773 The Tribunal upheld the CIT(A)'s decision to delete additions of Rs. 4,56,87,000/- and Rs. 2,82,00,000/- under section 68, ruling that these amounts constituted opening balances and could not be treated as unexplained cash credits. The Tribunal supported this conclusion with legal precedents and found no error in the CIT(A)'s judgment. Consequently, the Revenue's appeal was dismissed, affirming the deletion of the additions. Case-Laws Income Tax Mon, 07 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430773