https://www.taxtmi.com/caselaws?id=775361 The ITAT upheld the deletion of additions related to unaccounted cash sales, agreeing with the CIT(A) that the assessee had adequately furnished details and reconciliations. However, regarding unexplained cash under section 69A based on a loose paper found during search proceedings, the tribunal found the assessee's explanation unconvincing and considered the acceptance of the explanation by CIT(A) erroneous. The document's discovery at the assessee's premises and lack of prior explanation led to the conclusion that the assessee failed to discharge the onus under section 292C. The matter was remanded to CIT(A) for fresh adjudication after affording the assessee an opportunity to explain, allowing the ground for statistical purposes. en-us Mon, 21 Jul 2025 00:00:00 +0530 Thu, 24 Jul 2025 08:40:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775361 The ITAT upheld the deletion of additions related to unaccounted cash sales, agreeing with the CIT(A) that the assessee had adequately furnished details and reconciliations. However, regarding unexplained cash under section 69A based on a loose paper found during search proceedings, the tribunal found the assessee's explanation unconvincing and considered the acceptance of the explanation by CIT(A) erroneous. The document's discovery at the assessee's premises and lack of prior explanation led to the conclusion that the assessee failed to discharge the onus under section 292C. The matter was remanded to CIT(A) for fresh adjudication after affording the assessee an opportunity to explain, allowing the ground for statistical purposes. Case-Laws Income Tax Mon, 21 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775361