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2022 (5) TMI 227 - AT - Income TaxAddition u/s 68 - unexplained cash credits - HELD THAT:- Both the tax authorities have perfunctory & arbitrarily brushed aside the submissions of the appellant, and without articulating the insufficiency of explanation tendered, merely carried way for personal appearance of the creditors and concluded the proceedings capriciously under surmise, conjecture and guesswork, which is bad in law, thus the addition made u/s 68 finds no merits, and consequently deserves to be deleted. - Decided in favour of assessee.
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