https://www.taxtmi.com/caselaws?id=456025 The ITAT Pune Bench ruled in favor of the assessee, a Co-operative Society, regarding the addition of Rs. 1,21,99,435/- made by the AO under section 68 of the Income Tax Act, 1961, for cash deposits during the demonetization period. The Tribunal found the addition unjustified and directed its deletion, dismissing the Revenue's appeal. The decision emphasized the importance of proving the identity and genuineness of transactions, aligning with precedents in similar cases. en-us Tue, 28 Mar 2023 00:00:00 +0530 Sat, 22 Jun 2024 07:16:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456025 The ITAT Pune Bench ruled in favor of the assessee, a Co-operative Society, regarding the addition of Rs. 1,21,99,435/- made by the AO under section 68 of the Income Tax Act, 1961, for cash deposits during the demonetization period. The Tribunal found the addition unjustified and directed its deletion, dismissing the Revenue's appeal. The decision emphasized the importance of proving the identity and genuineness of transactions, aligning with precedents in similar cases. Case-Laws Income Tax Tue, 28 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456025