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2022 (1) TMI 87 - ITAT AHMEDABADAddition u/s 68 - assessee was doing share trading business and the cash was deposited/withdrawn for the business. The peak credit only can be added, in place of total cash deposited in Bank A/c. - HELD THAT:- At the time of hearing and after going through the order of the CIT(A), it emerges that the details of IPOs were not produced before the CIT(A) and before the Assessing Officer. The cash deposits and its source as well as related supporting evidences were not produced by the assessee before the Assessing Officer as well as before the CIT(A). The assessee has filed additional evidence before us. Therefore, it will be appropriate to remand back the matter to the file of the Assessing Officer for proper adjudication of the additional evidence produced before us along with details of IPOs. After verification of the source of cash deposit as well as the genuineness of the transactions, the Assessing Officer may decide the case of the assessee as per the due process of law.
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