https://www.taxtmi.com/caselaws?id=770610 The ITAT Ahmedabad held that the AO erred in treating entire cash deposits and credit entries in bank accounts as unexplained income without considering corresponding debit transactions. The assessee indicated that detailed explanations regarding cash deposits and credit transactions would be filed. The Tribunal set aside the matter to the JAO with directions to provide another opportunity to the assessee to explain sources of cash deposits and credit entries in bank accounts. The appeal was allowed for statistical purposes. en-us Wed, 07 May 2025 00:00:00 +0530 Wed, 14 May 2025 07:48:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770610 The ITAT Ahmedabad held that the AO erred in treating entire cash deposits and credit entries in bank accounts as unexplained income without considering corresponding debit transactions. The assessee indicated that detailed explanations regarding cash deposits and credit transactions would be filed. The Tribunal set aside the matter to the JAO with directions to provide another opportunity to the assessee to explain sources of cash deposits and credit entries in bank accounts. The appeal was allowed for statistical purposes. Case-Laws Income Tax Wed, 07 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770610