https://www.taxtmi.com/caselaws?id=768347 ITAT Jaipur dismissed revenue's appeal regarding unexplained cash deposits under Section 68 read with Section 115BBE and disallowance under Section 40A(3). The assessee provided bank certificate confirming deposits comprised legal tender and demonetized currency notes, with source being sales receipts recorded in audited books. CIT(A) deleted additions after remand proceedings. AO failed to produce contrary evidence regarding cash deposits' source or specify quantum of payments violating Section 40A(3). ITAT upheld CIT(A)'s deletion of additions, finding no merit in revenue's contentions due to lack of supporting evidence. en-us Thu, 10 Oct 2024 00:00:00 +0530 Sat, 05 Apr 2025 08:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768347 ITAT Jaipur dismissed revenue's appeal regarding unexplained cash deposits under Section 68 read with Section 115BBE and disallowance under Section 40A(3). The assessee provided bank certificate confirming deposits comprised legal tender and demonetized currency notes, with source being sales receipts recorded in audited books. CIT(A) deleted additions after remand proceedings. AO failed to produce contrary evidence regarding cash deposits' source or specify quantum of payments violating Section 40A(3). ITAT upheld CIT(A)'s deletion of additions, finding no merit in revenue's contentions due to lack of supporting evidence. Case-Laws Income Tax Thu, 10 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768347