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2022 (2) TMI 494 - HC - Income TaxAddition u/s 69A or 68 - unexplained cash deposits in the bank account - HELD THAT:- We find that it was a case of sale transaction of diamonds u/s 68 of the Act. The parameters for making addition u/s 68 and u/s 69A, though may appear to be similar, however, is not so; therefore, addition of cash credit u/s 68 of the Act would stand on a different pedestal. The principles governing cash credit under Section 68 of the Act cannot be extended to unexplained investments u/s 69A of the Act. See TILAK RAJ KUMAR AND OTHERS [2014 (10) TMI 1 - ANDHRA PRADESH HIGH COURT] - Decided against revenue.
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