https://www.taxtmi.com/caselaws?id=770695 ITAT Kolkata ruled in favor of the assessee regarding unexplained cash credit under Section 68. The tribunal held that addition cannot be made solely based on non-compliance with notices issued under Sections 133(6) or 131 when the assessee has provided all necessary details and evidence to the Assessing Officer. The court noted that loans were being repaid and all ingredients of Section 68 were proven. The tribunal relied on precedents from SC and various HCs, allowing the assessee's appeal. en-us Tue, 13 May 2025 00:00:00 +0530 Thu, 15 May 2025 07:32:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770695 ITAT Kolkata ruled in favor of the assessee regarding unexplained cash credit under Section 68. The tribunal held that addition cannot be made solely based on non-compliance with notices issued under Sections 133(6) or 131 when the assessee has provided all necessary details and evidence to the Assessing Officer. The court noted that loans were being repaid and all ingredients of Section 68 were proven. The tribunal relied on precedents from SC and various HCs, allowing the assessee's appeal. Case-Laws Income Tax Tue, 13 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770695