https://www.taxtmi.com/caselaws?id=117198 The Tribunal dismissed the revenue's appeal and upheld the CIT(A)'s decision to delete the addition of Rs. 1,50,000 as undisclosed income. The Tribunal found that the assessee had provided sufficient evidence and explanations regarding the source of the seized amount, which the Assessing Officer had rejected based on suspicion without proper rebuttal. The Tribunal emphasized that suspicion alone cannot override a reasonable explanation and noted that the addition made by the Assessing Officer was unsustainable. Additionally, it highlighted that the relevant financial year for taxing the unexplained money differed from the assessment year in question. en-us Tue, 10 Dec 2002 00:00:00 +0530 Wed, 20 Jun 2012 18:55:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117198 The Tribunal dismissed the revenue's appeal and upheld the CIT(A)'s decision to delete the addition of Rs. 1,50,000 as undisclosed income. The Tribunal found that the assessee had provided sufficient evidence and explanations regarding the source of the seized amount, which the Assessing Officer had rejected based on suspicion without proper rebuttal. The Tribunal emphasized that suspicion alone cannot override a reasonable explanation and noted that the addition made by the Assessing Officer was unsustainable. Additionally, it highlighted that the relevant financial year for taxing the unexplained money differed from the assessment year in question. Case-Laws Income Tax Tue, 10 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117198