https://www.taxtmi.com/caselaws?id=446708 The ITAT ruled in favor of the assessee, a company in the construction business, by deleting the addition of Rs. 3,78,946/- made by the AO under section 68 for unexplained advances from customers. The assessee provided additional evidence, including booking letters and bank statements, to demonstrate the genuineness of the advance received from a non-resident individual. The ITAT found the evidence satisfactory and concluded that the advance was genuine and properly accounted for, thus allowing the assessee's appeal. en-us Wed, 16 Aug 2023 00:00:00 +0530 Sat, 09 Dec 2023 08:54:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446708 The ITAT ruled in favor of the assessee, a company in the construction business, by deleting the addition of Rs. 3,78,946/- made by the AO under section 68 for unexplained advances from customers. The assessee provided additional evidence, including booking letters and bank statements, to demonstrate the genuineness of the advance received from a non-resident individual. The ITAT found the evidence satisfactory and concluded that the advance was genuine and properly accounted for, thus allowing the assessee's appeal. Case-Laws Income Tax Wed, 16 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446708