https://www.taxtmi.com/caselaws?id=78061 The Income-tax Appellate Tribunal partially allowed the appeal of the assessee for the assessment year 1997-98, upholding the addition of unexplained investment but partially allowing the penalty proceedings. The Tribunal found the explanation provided by the assessee regarding the source of credits to be false, leading to the addition of the unexplained amount to the assessee's income. The Tribunal dismissed the appeal, affirming the addition to the assessee's income and emphasizing the inadequacy of the explanation provided. en-us Fri, 01 Feb 2008 00:00:00 +0530 Thu, 28 Oct 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78061 The Income-tax Appellate Tribunal partially allowed the appeal of the assessee for the assessment year 1997-98, upholding the addition of unexplained investment but partially allowing the penalty proceedings. The Tribunal found the explanation provided by the assessee regarding the source of credits to be false, leading to the addition of the unexplained amount to the assessee's income. The Tribunal dismissed the appeal, affirming the addition to the assessee's income and emphasizing the inadequacy of the explanation provided. Case-Laws Income Tax Fri, 01 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78061