https://www.taxtmi.com/caselaws?id=438903 The Tribunal upheld the CIT(A)'s decision, allowing the assessee's appeal by deleting the Rs. 13,29,50,000/- addition on account of cash deposits during demonetization. The Tribunal dismissed the revenue's appeal on charging interest under sections 234B and 234C, directing a recalculation of interest based on the revised total income after deletion of the addition. The CIT(A) found the cash deposits adequately explained, maintaining consistent stock levels and complying with KYC requirements for sales below Rs. 2 lakhs. The Tribunal affirmed the CIT(A)'s order, concluding no errors in the decision. en-us Mon, 29 May 2023 00:00:00 +0530 Sun, 11 Jun 2023 15:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438903 The Tribunal upheld the CIT(A)'s decision, allowing the assessee's appeal by deleting the Rs. 13,29,50,000/- addition on account of cash deposits during demonetization. The Tribunal dismissed the revenue's appeal on charging interest under sections 234B and 234C, directing a recalculation of interest based on the revised total income after deletion of the addition. The CIT(A) found the cash deposits adequately explained, maintaining consistent stock levels and complying with KYC requirements for sales below Rs. 2 lakhs. The Tribunal affirmed the CIT(A)'s order, concluding no errors in the decision. Case-Laws Income Tax Mon, 29 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438903