https://www.taxtmi.com/caselaws?id=765946 ITAT Delhi ruled in favor of the assessee regarding addition under section 68 for cash deposits during demonetization period. The assessee successfully discharged the onus by providing bank statements, purchase/sales details, VAT returns, cash book, sale register for October-December 2016, and closing stock details. The AO failed to reject the books of account or provide cogent reasons for the addition. The tribunal found the addition unsustainable, based on surmises and conjectures without corroborative material, following established precedents. en-us Fri, 17 Jan 2025 00:00:00 +0530 Wed, 12 Feb 2025 13:08:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765946 ITAT Delhi ruled in favor of the assessee regarding addition under section 68 for cash deposits during demonetization period. The assessee successfully discharged the onus by providing bank statements, purchase/sales details, VAT returns, cash book, sale register for October-December 2016, and closing stock details. The AO failed to reject the books of account or provide cogent reasons for the addition. The tribunal found the addition unsustainable, based on surmises and conjectures without corroborative material, following established precedents. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765946