https://www.taxtmi.com/caselaws?id=755427 The ITAT Delhi dismissed the Revenue's appeal regarding additions under Section 68 for cash advances from customers towards plots and housing. The AO had added cash advances to the assessee's income, doubting the genuineness and creditworthiness of lenders from remote areas. The CIT(A) deleted the addition. Following its own precedent, the ITAT remanded the matter to the AO for fresh examination of transaction genuineness, directing proper opportunity for hearing and consideration of evidence before passing a reasoned order in accordance with law. en-us Mon, 08 Jul 2024 00:00:00 +0530 Thu, 11 Jul 2024 09:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755427 The ITAT Delhi dismissed the Revenue's appeal regarding additions under Section 68 for cash advances from customers towards plots and housing. The AO had added cash advances to the assessee's income, doubting the genuineness and creditworthiness of lenders from remote areas. The CIT(A) deleted the addition. Following its own precedent, the ITAT remanded the matter to the AO for fresh examination of transaction genuineness, directing proper opportunity for hearing and consideration of evidence before passing a reasoned order in accordance with law. Case-Laws Income Tax Mon, 08 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755427