https://www.taxtmi.com/caselaws?id=441044 The Tribunal allowed the appeal filed by the assessee, partially overturning the addition of unexplained cash deposits under section 68 of the Income Tax Act. The Tribunal accepted the explanation provided by one individual regarding the source of funds and deleted the cash credit. For the other two individuals, it estimated a portion of the advanced amount as explained money and treated the remaining balance as unexplained cash credit. The appeal was admitted after condoning the delay in filing, attributed to an error by the Chartered Accountant's office. en-us Tue, 07 Mar 2023 00:00:00 +0530 Tue, 01 Aug 2023 09:02:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441044 The Tribunal allowed the appeal filed by the assessee, partially overturning the addition of unexplained cash deposits under section 68 of the Income Tax Act. The Tribunal accepted the explanation provided by one individual regarding the source of funds and deleted the cash credit. For the other two individuals, it estimated a portion of the advanced amount as explained money and treated the remaining balance as unexplained cash credit. The appeal was admitted after condoning the delay in filing, attributed to an error by the Chartered Accountant's office. Case-Laws Income Tax Tue, 07 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441044