https://www.taxtmi.com/caselaws?id=758262 ITAT Jaipur dismissed revenue's appeal regarding undisclosed cash deposits and surrendered income. The assessee maintained regular audited books with Rs. 43 crore turnover, mostly through banking channels. Despite husband's statement during survey admitting deposits as undisclosed income, CIT(A) deleted additions finding no incriminating material. The statement was retracted within two months, and AO failed to establish manipulation in cash books. ITAT upheld CIT(A)'s findings that surrender lacked documentary support and accounts were properly maintained and audited. en-us Mon, 05 Aug 2024 00:00:00 +0530 Mon, 16 Dec 2024 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758262 ITAT Jaipur dismissed revenue's appeal regarding undisclosed cash deposits and surrendered income. The assessee maintained regular audited books with Rs. 43 crore turnover, mostly through banking channels. Despite husband's statement during survey admitting deposits as undisclosed income, CIT(A) deleted additions finding no incriminating material. The statement was retracted within two months, and AO failed to establish manipulation in cash books. ITAT upheld CIT(A)'s findings that surrender lacked documentary support and accounts were properly maintained and audited. Case-Laws Income Tax Mon, 05 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758262