https://www.taxtmi.com/caselaws?id=772188 ITAT Ahmedabad remanded case involving unexplained cash deposits during demonetization period back to AO for re-examination. Partnership firm claimed cash deposits originated from earlier years' balances but failed to provide adequate substantiation through audited balance sheets signed by all partners or corroborative evidence of inter-partner disputes. AO also failed to conduct proper verification by recording partner statements. Court found both parties made presumptive assumptions without full factual inquiry. Matter restored to AO to verify cash availability as of 31.03.2014 and examine whether such cash could reasonably be carried forward until deposit date. Appeal allowed for statistical purposes. en-us Fri, 11 Apr 2025 00:00:00 +0530 Thu, 05 Jun 2025 08:25:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772188 ITAT Ahmedabad remanded case involving unexplained cash deposits during demonetization period back to AO for re-examination. Partnership firm claimed cash deposits originated from earlier years' balances but failed to provide adequate substantiation through audited balance sheets signed by all partners or corroborative evidence of inter-partner disputes. AO also failed to conduct proper verification by recording partner statements. Court found both parties made presumptive assumptions without full factual inquiry. Matter restored to AO to verify cash availability as of 31.03.2014 and examine whether such cash could reasonably be carried forward until deposit date. Appeal allowed for statistical purposes. Case-Laws Income Tax Fri, 11 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772188