https://www.taxtmi.com/caselaws?id=220325 The High Court remitted the case back to the Tribunal for a specific determination on the adequacy of the explanation provided by the assessee regarding the deletion of an addition made under Section 69 of the Income Tax Act, 1961. The Court emphasized the necessity of clear findings by the Tribunal to enable a proper legal assessment. Both the Commissioner of Income Tax (Appeals) and the Tribunal ruled in favor of the assessee, deleting the addition, citing that the assessing officer had erroneously concluded that no explanation was offered, when in fact, the assessee had provided evidence of the sources of the investments. en-us Wed, 16 Jan 2013 00:00:00 +0530 Fri, 28 Jun 2013 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220325 The High Court remitted the case back to the Tribunal for a specific determination on the adequacy of the explanation provided by the assessee regarding the deletion of an addition made under Section 69 of the Income Tax Act, 1961. The Court emphasized the necessity of clear findings by the Tribunal to enable a proper legal assessment. Both the Commissioner of Income Tax (Appeals) and the Tribunal ruled in favor of the assessee, deleting the addition, citing that the assessing officer had erroneously concluded that no explanation was offered, when in fact, the assessee had provided evidence of the sources of the investments. Case-Laws Income Tax Wed, 16 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220325