https://www.taxtmi.com/caselaws?id=765896 ITAT Raipur remanded the case to AO for re-adjudication of unexplained credit u/s. 68 regarding Rs. 2 crores addition to capital account, directing AO to provide reasonable hearing opportunity to assessee with fresh documentary evidence. Addition u/s. 2(22)(e) for deemed dividend was vacated as loan was advanced in preceding year, not subject year. Disallowance u/s. 14A matter was restored to AO for verification of exempt income receipt. Addition towards deemed sales tax was remanded for re-examination based on available documents. Unexplained cash credit u/s. 68 was upheld due to assessee's failure to explain nature and source of credits. en-us Mon, 10 Feb 2025 00:00:00 +0530 Wed, 12 Feb 2025 08:30:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765896 ITAT Raipur remanded the case to AO for re-adjudication of unexplained credit u/s. 68 regarding Rs. 2 crores addition to capital account, directing AO to provide reasonable hearing opportunity to assessee with fresh documentary evidence. Addition u/s. 2(22)(e) for deemed dividend was vacated as loan was advanced in preceding year, not subject year. Disallowance u/s. 14A matter was restored to AO for verification of exempt income receipt. Addition towards deemed sales tax was remanded for re-examination based on available documents. Unexplained cash credit u/s. 68 was upheld due to assessee's failure to explain nature and source of credits. Case-Laws Income Tax Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765896