No Addition for Difference in opening and closing cash balance if no unexplained cash was introduced

ACIT Vs Chaudhary Cars Pvt. Limited (ITAT Pune)

Brief facts are that AO noted that as per cash book for A. Y. 2011-12, the closing cash balance was of Rs.8,09,803/- whereas opening cash balance for AY 2012-13 was of Rs.7,41,900/-. Before the AO no explanation was furnished to reconcile the difference. However, during the course of appellate proceedings it was submitted that as on 31.03.2011 as per audited books of accounts appellant had closing cash balance of Rs.8,09,8031 – as per the main cash book and of Rs. 1,96,2161 – a

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