https://www.taxtmi.com/caselaws?id=466950 ITAT applied the standard under Section 68 and P. Mohanakala: where the assessee produced primary evidence of identity and genuineness (serially numbered receipts, cash book, vehicle registration) and the AO did not undertake independent verification or produce contrary material, the addition as unexplained cash credit cannot stand. Tribunal found receipts corroborated by books (closing cash balance before demonetisation), noted part of receipts already taxed as income, and concluded the AO failed the burden to rebut; addition of Rs. 50,90,194 under Section 68 deleted and appeal allowed for the assessee. en-us Mon, 24 Feb 2025 00:00:00 +0530 Wed, 25 Feb 2026 10:58:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466950 ITAT applied the standard under Section 68 and P. Mohanakala: where the assessee produced primary evidence of identity and genuineness (serially numbered receipts, cash book, vehicle registration) and the AO did not undertake independent verification or produce contrary material, the addition as unexplained cash credit cannot stand. Tribunal found receipts corroborated by books (closing cash balance before demonetisation), noted part of receipts already taxed as income, and concluded the AO failed the burden to rebut; addition of Rs. 50,90,194 under Section 68 deleted and appeal allowed for the assessee. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466950