https://www.taxtmi.com/caselaws?id=435810 ITAT held for the assessee, setting aside additions u/s 68 r.w.s. 115BBE concerning unexplained bank deposits. The Tribunal found the AO had accepted the assessee's books (also accepted in VAT) and neither rejected them nor identified defects; the assessee plausibly explained deposits as cash sales. AO and CIT(A) relied on conjecture without corroborative evidence or examination of buyers. Absent rejection of books or adequate material linking evidence to the addition, the assessment was held erroneous. en-us Mon, 27 Mar 2023 00:00:00 +0530 Fri, 07 Nov 2025 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435810 ITAT held for the assessee, setting aside additions u/s 68 r.w.s. 115BBE concerning unexplained bank deposits. The Tribunal found the AO had accepted the assessee's books (also accepted in VAT) and neither rejected them nor identified defects; the assessee plausibly explained deposits as cash sales. AO and CIT(A) relied on conjecture without corroborative evidence or examination of buyers. Absent rejection of books or adequate material linking evidence to the addition, the assessment was held erroneous. Case-Laws Income Tax Mon, 27 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435810