https://www.taxtmi.com/caselaws?id=210103 The Court allowed the appeal, setting aside the Tribunal's order and directing the Assessing Officer to consider the set-off of intangible additions against undisclosed income from previous assessment years. The Court found merit in the appellant's argument that undisclosed incomes from prior years, after being assessed and taxed, should be allowed as deductions against unexplained cash. The Assessing Officer was instructed to apply the principle of set-off based on the final reassessment of the previous two assessment years, specifically for the year 1997-98. en-us Tue, 19 Apr 2011 00:00:00 +0530 Wed, 26 Jun 2013 13:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210103 The Court allowed the appeal, setting aside the Tribunal's order and directing the Assessing Officer to consider the set-off of intangible additions against undisclosed income from previous assessment years. The Court found merit in the appellant's argument that undisclosed incomes from prior years, after being assessed and taxed, should be allowed as deductions against unexplained cash. The Assessing Officer was instructed to apply the principle of set-off based on the final reassessment of the previous two assessment years, specifically for the year 1997-98. Case-Laws Income Tax Tue, 19 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210103