https://www.taxtmi.com/highlights?id=70284 Addition u/s 68 - cash deposits during the demonetization period in SBNs - Proof of the source being the cash sales with necessary corroborative evidences - after demonetization, the demonetized notes could not have been accepted as valid tender - CIT(A) deleted the additions - The AO has not pointed out any specific adversity but made a generalize addition without considering the factual aspects and primary evidences. The A.O has failed to make further enquiries on the information filed and the assessee has discharged the initial burden placed by submitting the information and details. - Order of CIT(A) sustained - AT en-us Mon, 12 Jun 2023 08:43:49 +0530 Mon, 12 Jun 2023 08:43:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70284 Addition u/s 68 - cash deposits during the demonetization period in SBNs - Proof of the source being the cash sales with necessary corroborative evidences - after demonetization, the demonetized notes could not have been accepted as valid tender - CIT(A) deleted the additions - The AO has not pointed out any specific adversity but made a generalize addition without considering the factual aspects and primary evidences. The A.O has failed to make further enquiries on the information filed and the assessee has discharged the initial burden placed by submitting the information and details. - Order of CIT(A) sustained - AT Highlights Income Tax Mon, 12 Jun 2023 08:43:49 +0530 https://www.taxtmi.com/highlights?id=70284