https://www.taxtmi.com/caselaws?id=442980 The Tribunal allowed the appeal of the assessee, ruling that the additions of Rs. 8,49,000 on cash deposits were to be deleted. The Tribunal found that the appellant adequately explained that the cash deposits originated from bank withdrawals and cash on hand. The Assessing Officer did not raise adverse comments on the case, and the Ld. CIT(A) failed to provide substantial evidence to counter the appellant's explanation. Consequently, the Tribunal concluded that the source of the cash deposits was sufficiently clarified and ordered the deletion of the additions. en-us Tue, 05 Sep 2023 00:00:00 +0530 Thu, 14 Sep 2023 09:01:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442980 The Tribunal allowed the appeal of the assessee, ruling that the additions of Rs. 8,49,000 on cash deposits were to be deleted. The Tribunal found that the appellant adequately explained that the cash deposits originated from bank withdrawals and cash on hand. The Assessing Officer did not raise adverse comments on the case, and the Ld. CIT(A) failed to provide substantial evidence to counter the appellant's explanation. Consequently, the Tribunal concluded that the source of the cash deposits was sufficiently clarified and ordered the deletion of the additions. Case-Laws Income Tax Tue, 05 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442980