https://www.taxtmi.com/caselaws?id=458613 The ITAT Delhi upheld the corrigendum assessment order passed by the AO, ruling it proper since only the incomplete three-page assessment order was rectified within the limitation period on 24/12/2019, while demand notices and penalty computations remained unchanged. Regarding unexplained cash deposits under section 68, the ITAT dismissed the Revenue's appeal, holding that the assessee adequately explained the source of cash deposits from sales and demonstrated availability of cash and stock to support bank deposits during demonetization. The AO failed to substantiate findings beyond mere data interpretation without proper inquiry. en-us Fri, 03 May 2024 00:00:00 +0530 Fri, 08 Nov 2024 19:56:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458613 The ITAT Delhi upheld the corrigendum assessment order passed by the AO, ruling it proper since only the incomplete three-page assessment order was rectified within the limitation period on 24/12/2019, while demand notices and penalty computations remained unchanged. Regarding unexplained cash deposits under section 68, the ITAT dismissed the Revenue's appeal, holding that the assessee adequately explained the source of cash deposits from sales and demonstrated availability of cash and stock to support bank deposits during demonetization. The AO failed to substantiate findings beyond mere data interpretation without proper inquiry. Case-Laws Income Tax Fri, 03 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458613