https://www.taxtmi.com/caselaws?id=775493 ITAT Mumbai held that the assessee, engaged in LPG cylinder distribution with predominantly cash sales, legitimately deposited cash in the form of SBN after 16.12.2016, as permitted by the Government of India until 30.12.2016. The AO's addition under sections 68 and 115BBE for unexplained cash credit was not justified due to lack of proper investigation into total cash sales before 15.12.2016. Consequently, the ITAT partly allowed the assessee's appeal, rejecting the addition on unexplained cash deposits. en-us Mon, 02 Jun 2025 00:00:00 +0530 Sat, 26 Jul 2025 08:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775493 ITAT Mumbai held that the assessee, engaged in LPG cylinder distribution with predominantly cash sales, legitimately deposited cash in the form of SBN after 16.12.2016, as permitted by the Government of India until 30.12.2016. The AO's addition under sections 68 and 115BBE for unexplained cash credit was not justified due to lack of proper investigation into total cash sales before 15.12.2016. Consequently, the ITAT partly allowed the assessee's appeal, rejecting the addition on unexplained cash deposits. Case-Laws Income Tax Mon, 02 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775493