https://www.taxtmi.com/caselaws?id=435762 ITAT held that additions under section 68 for unexplained cash deposits were vacated because the AO failed to form an objective opinion based on record and did not reject the assessee's regularly maintained books. Cash sales below statutory limit need not include customer PAN/address, the audited books and submitted details were accepted, and deposits were supported by entries and part of admitted sales. Consequently the addition was unwarranted and the assessee's appeal was allowed. en-us Thu, 23 Mar 2023 00:00:00 +0530 Wed, 01 Oct 2025 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435762 ITAT held that additions under section 68 for unexplained cash deposits were vacated because the AO failed to form an objective opinion based on record and did not reject the assessee's regularly maintained books. Cash sales below statutory limit need not include customer PAN/address, the audited books and submitted details were accepted, and deposits were supported by entries and part of admitted sales. Consequently the addition was unwarranted and the assessee's appeal was allowed. Case-Laws Income Tax Thu, 23 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435762