Addition of unexplained cash credit unsustainable in absence of rejection of books of accounts

Rahul Cold Storage Vs ITO (ITAT Raipur) ITAT Raipur held that addition u/s 68 as unexplained cash credit unsustainable as AO has not rejected the books of accounts. Accordingly, it can be concluded that by accepting the books of accounts AO has also accepted the cash deposits to have been sourced out of duly disclosed source. Facts- During the course of assessment proceedings, it was observed by AO that the assessee deposited Rs. 38.55 Lacs during the demonetization and Rs. 8 Lacs. Assessee submitted that the same was made out of cash in hand that wat at the relevant point of time available at...