Addition u/s 68 based on Cash Deposit not allowable in the Absence of Corroborative Evidence: ITAT [Read Order]

Addition- Cash - Deposit - not - allowable - in - the - Absence - of - Corroborative - Evidence - ITAT -TAXSCAN

The Pune bench of the Income Tax Appellate Tribunal(ITAT) has held that addition under section  68 of the Income Tax Act,1961 based on Cash deposit is not allowable  in the absence of the Corroborative  evidence Prashant Pratap Ahir, the assessee submitted that the impugned addition and confirmation thereof by the CIT(A) was on account of…

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