https://www.taxtmi.com/caselaws?id=776089 The ITAT upheld the CIT(A)'s deletion of the addition under section 68 relating to cash deposits made in demonetized currency, accepting that the amount represented legitimate cash sales supported by sufficient stock and proper records. The AO's addition was found to be based on conjecture without credible evidence. However, the ITAT sustained the CIT(A)'s addition of Rs. 10,20,693 to the gross profit, finding no material to challenge its correctness. The remaining addition out of the total Rs. 1,01,54,618 was deleted. en-us Thu, 02 Jan 2025 00:00:00 +0530 Tue, 05 Aug 2025 07:54:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776089 The ITAT upheld the CIT(A)'s deletion of the addition under section 68 relating to cash deposits made in demonetized currency, accepting that the amount represented legitimate cash sales supported by sufficient stock and proper records. The AO's addition was found to be based on conjecture without credible evidence. However, the ITAT sustained the CIT(A)'s addition of Rs. 10,20,693 to the gross profit, finding no material to challenge its correctness. The remaining addition out of the total Rs. 1,01,54,618 was deleted. Case-Laws Income Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776089