https://www.taxtmi.com/caselaws?id=211216 The Tribunal dismissed the appeal challenging the validity of the assessment order, restoring the issue to the CIT(A) for further consideration. Regarding the addition of Rs.11,58,912, the Tribunal partially allowed relief by reducing the amount for the gift from the grandfather and deleting the addition for unexplained cash credits. The penalty imposed under Section 271(1)(c) was cancelled, considering the assessee's disclosure and explanation. en-us Thu, 05 Jan 2012 00:00:00 +0530 Fri, 09 Mar 2012 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211216 The Tribunal dismissed the appeal challenging the validity of the assessment order, restoring the issue to the CIT(A) for further consideration. Regarding the addition of Rs.11,58,912, the Tribunal partially allowed relief by reducing the amount for the gift from the grandfather and deleting the addition for unexplained cash credits. The penalty imposed under Section 271(1)(c) was cancelled, considering the assessee's disclosure and explanation. Case-Laws Income Tax Thu, 05 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211216