https://www.taxtmi.com/caselaws?id=773013 ITAT Delhi ruled in favor of the assessee regarding additions under section 68 for unexplained cash credits. The tribunal found that Rs. 61,00,000 was an opening balance from previous year, making no addition possible for current financial year. For the remaining Rs. 1,60,000, the tribunal determined the assessee acted merely as a conduit/mediator in accommodation entry transactions with a private limited company, with no personal benefit derived. Since the cash belonged to the company and assessee was only facilitating the transaction, the appeal was allowed. en-us Fri, 06 Jun 2025 00:00:00 +0530 Tue, 17 Jun 2025 07:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773013 ITAT Delhi ruled in favor of the assessee regarding additions under section 68 for unexplained cash credits. The tribunal found that Rs. 61,00,000 was an opening balance from previous year, making no addition possible for current financial year. For the remaining Rs. 1,60,000, the tribunal determined the assessee acted merely as a conduit/mediator in accommodation entry transactions with a private limited company, with no personal benefit derived. Since the cash belonged to the company and assessee was only facilitating the transaction, the appeal was allowed. Case-Laws Income Tax Fri, 06 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773013