https://www.taxtmi.com/caselaws?id=780752 ITAT deleted addition under s. 68 where a cooperative society explained deposits of SBNs as member deposits and loan repayments, supported by cash books and member lists; banks had accepted and credited the amounts. The AO's conclusion that deposits were invalid tender and unexplained cash credit was unsustainable because the source and nature were explained, members were neither shown to be non-existent nor the funds to be the assessee's unaccounted money, and no contrary evidence or regulatory action was produced. Appeal of the assessee was allowed. en-us Tue, 30 Sep 2025 00:00:00 +0530 Tue, 04 Nov 2025 16:12:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780752 ITAT deleted addition under s. 68 where a cooperative society explained deposits of SBNs as member deposits and loan repayments, supported by cash books and member lists; banks had accepted and credited the amounts. The AO's conclusion that deposits were invalid tender and unexplained cash credit was unsustainable because the source and nature were explained, members were neither shown to be non-existent nor the funds to be the assessee's unaccounted money, and no contrary evidence or regulatory action was produced. Appeal of the assessee was allowed. Case-Laws Income Tax Tue, 30 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780752