https://www.taxtmi.com/caselaws?id=71059 The ITAT Patna reviewed an appeal concerning the assessment of undisclosed income for the assessment year 1965-66 based on deposits in the cash books of the assessee HUF. The Tribunal found discrepancies in the assessment, revealing that the deposits were linked to a firm dissolution and asset distribution among partners. Despite initial confirmations by the AAC, the Tribunal set aside the order for further investigation. Upon reevaluation, the Tribunal concluded that the deposits were adequately explained through the dissolution deed and accounts, ultimately ruling in favor of the assessee by deleting the entire addition of Rs. 86,279. en-us Tue, 16 Sep 1980 00:00:00 +0530 Thu, 21 Apr 2011 11:34:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71059 The ITAT Patna reviewed an appeal concerning the assessment of undisclosed income for the assessment year 1965-66 based on deposits in the cash books of the assessee HUF. The Tribunal found discrepancies in the assessment, revealing that the deposits were linked to a firm dissolution and asset distribution among partners. Despite initial confirmations by the AAC, the Tribunal set aside the order for further investigation. Upon reevaluation, the Tribunal concluded that the deposits were adequately explained through the dissolution deed and accounts, ultimately ruling in favor of the assessee by deleting the entire addition of Rs. 86,279. Case-Laws Income Tax Tue, 16 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71059