https://www.taxtmi.com/caselaws?id=769740 ITAT Mumbai dismissed Revenue's rectification application u/s 254 regarding addition u/s 68 for unexplained cash credits. The Tribunal had previously deleted additions for 26 member-depositors where details were furnished and notices served, following Pragati Credit Corporative Society precedent. Revenue sought clarification on Tribunal's direction to substantiate identity of remaining member-depositors. ITAT held no mistake apparent on record existed, clarifying that Revenue retained right to investigate other member-depositors while assessee could raise contentions before AO. Following Reliance Telecom precedent, rectification was denied as no apparent error warranted correction. en-us Wed, 12 Mar 2025 00:00:00 +0530 Thu, 01 May 2025 08:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769740 ITAT Mumbai dismissed Revenue's rectification application u/s 254 regarding addition u/s 68 for unexplained cash credits. The Tribunal had previously deleted additions for 26 member-depositors where details were furnished and notices served, following Pragati Credit Corporative Society precedent. Revenue sought clarification on Tribunal's direction to substantiate identity of remaining member-depositors. ITAT held no mistake apparent on record existed, clarifying that Revenue retained right to investigate other member-depositors while assessee could raise contentions before AO. Following Reliance Telecom precedent, rectification was denied as no apparent error warranted correction. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769740