https://www.taxtmi.com/caselaws?id=457186 ITAT Jaipur ruled in favor of the assessee regarding unexplained cash deposits under section 68. The tribunal found that cash receipts from customers for vehicle deliveries were genuine sales recorded in books, with all required details provided during assessment proceedings. Following Rajasthan HC precedent in Smt. Harshil Chordia case, the tribunal held that cash deposits from customers against vehicle deliveries were self-explanatory and did not attract section 68 provisions. The addition was directed to be deleted as the cash represented legitimate business receipts. en-us Wed, 20 Dec 2023 00:00:00 +0530 Tue, 10 Sep 2024 20:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457186 ITAT Jaipur ruled in favor of the assessee regarding unexplained cash deposits under section 68. The tribunal found that cash receipts from customers for vehicle deliveries were genuine sales recorded in books, with all required details provided during assessment proceedings. Following Rajasthan HC precedent in Smt. Harshil Chordia case, the tribunal held that cash deposits from customers against vehicle deliveries were self-explanatory and did not attract section 68 provisions. The addition was directed to be deleted as the cash represented legitimate business receipts. Case-Laws Income Tax Wed, 20 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457186