https://www.taxtmi.com/caselaws?id=435214 The Income Tax Appellate Tribunal (ITAT) upheld the deletion of an addition under Section 69C by the Commissioner of Income Tax (Appeals) (CIT(A)), dismissing the Revenue's challenge. The ITAT found that the CIT(A)'s decision was supported by precedents and lacked concrete evidence of unaccounted cash transactions. The ITAT emphasized the importance of substantial evidence beyond seized documents and retracted statements, leading to the dismissal of the Revenue's appeal and the cross objection filed by the assessee. en-us Wed, 22 Feb 2023 00:00:00 +0530 Tue, 14 Mar 2023 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435214 The Income Tax Appellate Tribunal (ITAT) upheld the deletion of an addition under Section 69C by the Commissioner of Income Tax (Appeals) (CIT(A)), dismissing the Revenue's challenge. The ITAT found that the CIT(A)'s decision was supported by precedents and lacked concrete evidence of unaccounted cash transactions. The ITAT emphasized the importance of substantial evidence beyond seized documents and retracted statements, leading to the dismissal of the Revenue's appeal and the cross objection filed by the assessee. Case-Laws Income Tax Wed, 22 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435214