https://www.taxtmi.com/caselaws?id=219551 The Tribunal upheld the decisions of the CIT(A) in a case involving disputes over the nature of income from "Hotel Derby," additions under section 68 of the Act, and cash deposits in the current account of "Hotel Derby." The Tribunal ruled in favor of the assessee, determining that the income from "Hotel Derby" should be considered as business income, accepting explanations for the additions under section 68, and finding no grounds for the addition related to cash deposits. The revenue's appeal was dismissed, emphasizing the proper consideration of facts and supporting evidence. en-us Fri, 20 Jul 2012 00:00:00 +0530 Wed, 03 Oct 2012 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219551 The Tribunal upheld the decisions of the CIT(A) in a case involving disputes over the nature of income from "Hotel Derby," additions under section 68 of the Act, and cash deposits in the current account of "Hotel Derby." The Tribunal ruled in favor of the assessee, determining that the income from "Hotel Derby" should be considered as business income, accepting explanations for the additions under section 68, and finding no grounds for the addition related to cash deposits. The revenue's appeal was dismissed, emphasizing the proper consideration of facts and supporting evidence. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219551