https://www.taxtmi.com/caselaws?id=66944 The Tribunal partially allowed the appeal. It rejected the appellant's claims regarding the validity of notices and ex parte orders. The Tribunal ruled in favor of the appellant on the retraction of surrender, stating that it could not be the sole basis for assessment. The Tribunal found no evidence of agricultural income, confirming Rs. 2,40,841 as commission income and deleting Rs. 10,21,159 as trust money. The estimated commission income of Rs. 55 lakhs was deemed unjustified and deleted. The Third Member upheld the addition of Rs. 12.62 lakhs, combining unexplained cash and income from hawala business. en-us Wed, 03 Nov 2004 00:00:00 +0530 Tue, 25 Jun 2024 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66944 The Tribunal partially allowed the appeal. It rejected the appellant's claims regarding the validity of notices and ex parte orders. The Tribunal ruled in favor of the appellant on the retraction of surrender, stating that it could not be the sole basis for assessment. The Tribunal found no evidence of agricultural income, confirming Rs. 2,40,841 as commission income and deleting Rs. 10,21,159 as trust money. The estimated commission income of Rs. 55 lakhs was deemed unjustified and deleted. The Third Member upheld the addition of Rs. 12.62 lakhs, combining unexplained cash and income from hawala business. Case-Laws Income Tax Wed, 03 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66944