https://www.taxtmi.com/caselaws?id=782014 ITAT Ahmedabad deleted the addition made u/s 68 towards alleged unexplained cash deposits and rejected the basis for invoking s.145(3). The assessee had explained that the cash deposits represented amounts received from existing debtors against past sales, furnishing a detailed party-wise bifurcation of receipts and corresponding outstanding balances. The Revenue did not dispute these details nor bring any contrary evidence on record. Holding that the assessee's explanation was credible and supported by documents, the Tribunal concluded that the cash deposits were explained business receipts, not unexplained cash credits, and therefore allowed the assessee's appeal in full. en-us Tue, 07 Oct 2025 00:00:00 +0530 Mon, 24 Nov 2025 08:57:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782014 ITAT Ahmedabad deleted the addition made u/s 68 towards alleged unexplained cash deposits and rejected the basis for invoking s.145(3). The assessee had explained that the cash deposits represented amounts received from existing debtors against past sales, furnishing a detailed party-wise bifurcation of receipts and corresponding outstanding balances. The Revenue did not dispute these details nor bring any contrary evidence on record. Holding that the assessee's explanation was credible and supported by documents, the Tribunal concluded that the cash deposits were explained business receipts, not unexplained cash credits, and therefore allowed the assessee's appeal in full. Case-Laws Income Tax Tue, 07 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782014