https://www.taxtmi.com/caselaws?id=309137 The tribunal allowed the appeal, directing the deletion of the addition of Rs. 7,30,000 on account of cash deposits in bank accounts. It emphasized the need for concrete evidence to support additions under section 69A of the Act and found the arguments regarding keeping significant cash idle for a long time untenable. The tribunal highlighted the importance of positive or adverse material to establish discrepancies between withdrawn and deposited amounts, ultimately ruling in favor of the appellant. en-us Thu, 22 Sep 2022 00:00:00 +0530 Sat, 12 Aug 2023 08:32:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309137 The tribunal allowed the appeal, directing the deletion of the addition of Rs. 7,30,000 on account of cash deposits in bank accounts. It emphasized the need for concrete evidence to support additions under section 69A of the Act and found the arguments regarding keeping significant cash idle for a long time untenable. The tribunal highlighted the importance of positive or adverse material to establish discrepancies between withdrawn and deposited amounts, ultimately ruling in favor of the appellant. Case-Laws Income Tax Thu, 22 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309137