https://www.taxtmi.com/caselaws?id=431320 The Tribunal allowed the assessee's appeal, vacating the addition of Rs. 46,55,000 made under Section 68 of the Income-tax Act. The Tribunal found that the Assessing Officer did not provide a reasonable opportunity for the assessee to produce supporting documents and highlighted inconsistencies in the AO's approach. The Tribunal concluded that the decision to treat the cash deposits as unexplained cash credit was unjustified, leading to the allowance of the appeal. en-us Tue, 29 Nov 2022 00:00:00 +0530 Sat, 10 Dec 2022 11:14:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431320 The Tribunal allowed the assessee's appeal, vacating the addition of Rs. 46,55,000 made under Section 68 of the Income-tax Act. The Tribunal found that the Assessing Officer did not provide a reasonable opportunity for the assessee to produce supporting documents and highlighted inconsistencies in the AO's approach. The Tribunal concluded that the decision to treat the cash deposits as unexplained cash credit was unjustified, leading to the allowance of the appeal. Case-Laws Income Tax Tue, 29 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431320