https://www.taxtmi.com/caselaws?id=762661 ITAT Jaipur allowed the appeal and directed deletion of addition under section 68 for unexplained cash credit. The tribunal held that money received from sundry debtors represented recovery of advances given in earlier years against pawning security, with interest already offered to tax when advances were made. Since the assessee demonstrated the source of advances in prior years and the amounts received were merely recovery of opening balances, the receipts could not be treated as unexplained cash credit or current year income despite incomplete debtor details. en-us Fri, 27 Sep 2024 00:00:00 +0530 Thu, 05 Dec 2024 08:37:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762661 ITAT Jaipur allowed the appeal and directed deletion of addition under section 68 for unexplained cash credit. The tribunal held that money received from sundry debtors represented recovery of advances given in earlier years against pawning security, with interest already offered to tax when advances were made. Since the assessee demonstrated the source of advances in prior years and the amounts received were merely recovery of opening balances, the receipts could not be treated as unexplained cash credit or current year income despite incomplete debtor details. Case-Laws Income Tax Fri, 27 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762661