https://www.taxtmi.com/caselaws?id=464451 ITAT allowed the appeal, reversing the addition u/s 68 of unexplained cash credits. The tribunal found the large demonetization-period bank deposits were explained as cash receipts from the assessee's milk business and that payments to the dairy principal were made from those receipts. The addition-imposed after the assessee's non-appearance in earlier proceedings and sustained by the lower authority-was held unwarranted on the facts, and the disputed sum was treated as explained business receipts. en-us Thu, 23 Jan 2025 00:00:00 +0530 Thu, 30 Oct 2025 20:27:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464451 ITAT allowed the appeal, reversing the addition u/s 68 of unexplained cash credits. The tribunal found the large demonetization-period bank deposits were explained as cash receipts from the assessee's milk business and that payments to the dairy principal were made from those receipts. The addition-imposed after the assessee's non-appearance in earlier proceedings and sustained by the lower authority-was held unwarranted on the facts, and the disputed sum was treated as explained business receipts. Case-Laws Income Tax Thu, 23 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464451