https://www.taxtmi.com/caselaws?id=758015 ITAT Raipur remitted the case back to AO for fresh adjudication regarding addition under section 68 for cash deposits during demonetization period. The assessee failed to substantiate cash receipts from sales and debtors with corroborative evidence, and could not explain mismatches in cash balances. While the tribunal noted deficiencies in books of accounts, it directed verification of closing/opening cash balances, sale bills, and impact on returned income before making final determination on unexplained cash credit addition. en-us Tue, 13 Feb 2024 00:00:00 +0530 Fri, 06 Sep 2024 08:19:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758015 ITAT Raipur remitted the case back to AO for fresh adjudication regarding addition under section 68 for cash deposits during demonetization period. The assessee failed to substantiate cash receipts from sales and debtors with corroborative evidence, and could not explain mismatches in cash balances. While the tribunal noted deficiencies in books of accounts, it directed verification of closing/opening cash balances, sale bills, and impact on returned income before making final determination on unexplained cash credit addition. Case-Laws Income Tax Tue, 13 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758015