https://www.taxtmi.com/caselaws?id=758803 The ITAT Jaipur partially allowed the assessee's appeal against reopening of assessment for unexplained cash deposits. While the assessee claimed cash deposits originated from recorded sales, the AO found a deficit of Rs. 50,886.08 between available cash balance (Rs. 1,49,113.92) and actual deposit (Rs. 2,00,000). The ITAT sustained addition only for the deficit amount, finding the assessee failed to substantiate the source of excess cash with tangible material despite producing sales register and bank statements. en-us Mon, 09 Sep 2024 00:00:00 +0530 Thu, 19 Sep 2024 08:00:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758803 The ITAT Jaipur partially allowed the assessee's appeal against reopening of assessment for unexplained cash deposits. While the assessee claimed cash deposits originated from recorded sales, the AO found a deficit of Rs. 50,886.08 between available cash balance (Rs. 1,49,113.92) and actual deposit (Rs. 2,00,000). The ITAT sustained addition only for the deficit amount, finding the assessee failed to substantiate the source of excess cash with tangible material despite producing sales register and bank statements. Case-Laws Income Tax Mon, 09 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758803