https://www.taxtmi.com/highlights?id=67062 Addition u/s 68 - Unexplained cash deposits - The assessee’s contention that the loan has been repaid as he could not buy the residential property due to some unavoidable reasons is found to be genuine and reasonable cause. A.O. has not made any verification of the repayment of loan. In our considered view, the A.O. has made huge verification on small time assessees, many of them are seen to be agriculturists in a small village. - Assessee has filed confirmation from all the parties - Additions deleted - AT en-us Tue, 13 Dec 2022 11:28:12 +0530 Tue, 13 Dec 2022 11:28:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67062 Addition u/s 68 - Unexplained cash deposits - The assessee’s contention that the loan has been repaid as he could not buy the residential property due to some unavoidable reasons is found to be genuine and reasonable cause. A.O. has not made any verification of the repayment of loan. In our considered view, the A.O. has made huge verification on small time assessees, many of them are seen to be agriculturists in a small village. - Assessee has filed confirmation from all the parties - Additions deleted - AT Highlights Income Tax Tue, 13 Dec 2022 11:28:12 +0530 https://www.taxtmi.com/highlights?id=67062