https://www.taxtmi.com/caselaws?id=769520 The ITAT Ahmedabad set aside the CIT(A)'s order deleting additions for unexplained cash credits under section 68. The AO had rejected books of account under section 145(3) citing unverified related party purchases, missing quantitative stock details in Form 3CD, purchases from non-trading entities, and failure of third parties to respond to notices. The CIT(A) accepted the assessee's explanation based solely on audited books without independent verification. The ITAT found the CIT(A) failed to address material discrepancies and remanded the matter for fresh adjudication with directions to verify stock details, purchase genuineness, and unverified sales. en-us Wed, 23 Apr 2025 00:00:00 +0530 Sat, 26 Apr 2025 08:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769520 The ITAT Ahmedabad set aside the CIT(A)'s order deleting additions for unexplained cash credits under section 68. The AO had rejected books of account under section 145(3) citing unverified related party purchases, missing quantitative stock details in Form 3CD, purchases from non-trading entities, and failure of third parties to respond to notices. The CIT(A) accepted the assessee's explanation based solely on audited books without independent verification. The ITAT found the CIT(A) failed to address material discrepancies and remanded the matter for fresh adjudication with directions to verify stock details, purchase genuineness, and unverified sales. Case-Laws Income Tax Wed, 23 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769520