NECX (P.) Ltd. v. ITO (2023) 198 ITD 406 (Hyd) (Trib.)

S. 68 : Cash credits-Cash received deposited in bank account-Turn over is not disputed-Addition is deleted.

Assessee had made cash deposits of certain amount in his bank account. Assessing Officer made additions on account of same on ground that source of same was not explained by assessee.Order of Assessing Officer is affirmed. On appeal the Tribunal held that  turnover was  not disputed by Assessing Officer, since all these invoices were part of total sales, Commissioner (Appeals) was not justified in confirming the  additions. Tribunal deleted the addition.   (AY. 2013-14 )