https://www.taxtmi.com/caselaws?id=784656 Addition under s.69A for cash deposits was contested on the ground that the deposits comprised debtor collections received from a third party and past savings/opening balance, which were allegedly not properly placed before the AO and not duly appreciated by CIT(A). Holding that these factual explanations required fresh verification on merits, the ITAT remitted the issue to the AO for de novo examination and decision as per law. Separately, penalty under s.271B for failure to get accounts audited was upheld: the Tribunal held that obligations under s.44AA (maintenance of books) and s.44AB (audit) are distinct, and levy of penalty for non-maintenance does not bar penalty for non-audit; consequently, the assessee's appeal on penalty was dismissed. en-us Wed, 07 Jan 2026 00:00:00 +0530 Fri, 09 Jan 2026 08:29:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784656 Addition under s.69A for cash deposits was contested on the ground that the deposits comprised debtor collections received from a third party and past savings/opening balance, which were allegedly not properly placed before the AO and not duly appreciated by CIT(A). Holding that these factual explanations required fresh verification on merits, the ITAT remitted the issue to the AO for de novo examination and decision as per law. Separately, penalty under s.271B for failure to get accounts audited was upheld: the Tribunal held that obligations under s.44AA (maintenance of books) and s.44AB (audit) are distinct, and levy of penalty for non-maintenance does not bar penalty for non-audit; consequently, the assessee's appeal on penalty was dismissed. Case-Laws Income Tax Wed, 07 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784656