https://www.taxtmi.com/caselaws?id=68303 The Tribunal ruled in favor of the assessee, directing the AO to delete the sustained additions on account of unexplained opening capital and household withdrawals. The Tribunal found the AO's estimations arbitrary and unsupported by evidence, supporting the assessee's explanations with proof of income sources. Additionally, the Tribunal directed the AO to reconsider the interest charges under sections 234B and 234C due to circumstances leading to the delay in filing the return. Overall, the Tribunal partly allowed the appeal, providing relief to the assessee on the disputed issues. en-us Mon, 31 Dec 2007 00:00:00 +0530 Tue, 12 Jul 2016 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68303 The Tribunal ruled in favor of the assessee, directing the AO to delete the sustained additions on account of unexplained opening capital and household withdrawals. The Tribunal found the AO's estimations arbitrary and unsupported by evidence, supporting the assessee's explanations with proof of income sources. Additionally, the Tribunal directed the AO to reconsider the interest charges under sections 234B and 234C due to circumstances leading to the delay in filing the return. Overall, the Tribunal partly allowed the appeal, providing relief to the assessee on the disputed issues. Case-Laws Income Tax Mon, 31 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68303