https://www.taxtmi.com/caselaws?id=443410 The Tribunal allowed the appeal, ruling that the addition of Rs. 50 Lakhs as unexplained cash under section 69 of the Income Tax Act, 1961 for A.Y. 2011-12 was unsustainable due to lack of credible evidence. The appellant, a trading-retailers company, successfully argued that the alleged cash payment to M/s. Eureka Builders was not supported by seized materials and legal notices, which indicated the amount was shown as payable in their books due to litigation, leading to the deletion of the addition. en-us Fri, 08 Sep 2023 00:00:00 +0530 Sat, 23 Sep 2023 08:34:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443410 The Tribunal allowed the appeal, ruling that the addition of Rs. 50 Lakhs as unexplained cash under section 69 of the Income Tax Act, 1961 for A.Y. 2011-12 was unsustainable due to lack of credible evidence. The appellant, a trading-retailers company, successfully argued that the alleged cash payment to M/s. Eureka Builders was not supported by seized materials and legal notices, which indicated the amount was shown as payable in their books due to litigation, leading to the deletion of the addition. Case-Laws Income Tax Fri, 08 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443410