ITAT Deletes Unexplained Cash Credit Addition of ₹2.85 Lakh u/s 68 Due to Lack of AO Verification of Broker Documents

The ITAT deleted an addition for unexplained cash credits after finding that the Assessing Officer failed to verify documents submitted by the assessee’s broker. The tribunal observed that absence of enquiry or rebuttal from the department invalidates such additions under Section 68. The ruling underlines the importance of proper fact-finding before raising tax demands. (Word count: ~99)