https://www.taxtmi.com/caselaws?id=241049 The Tribunal reversed the lower authorities' decisions and deleted the additions, ruling in favor of the assessee. The Tribunal found the assessee's explanation regarding the source of deposits as the sale proceeds of inherited jewellery credible, emphasizing that the rejection of the explanation does not equate to the deposits being income. The Tribunal highlighted the lack of proper cross-examination or inquiry by the AO and CIT(A) and accepted the substantial evidence provided by the assessee, including a letter from the deceased mother and relevant documents, leading to a favorable outcome for the assessee. en-us Thu, 21 Nov 2013 00:00:00 +0530 Mon, 16 Dec 2013 16:11:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241049 The Tribunal reversed the lower authorities' decisions and deleted the additions, ruling in favor of the assessee. The Tribunal found the assessee's explanation regarding the source of deposits as the sale proceeds of inherited jewellery credible, emphasizing that the rejection of the explanation does not equate to the deposits being income. The Tribunal highlighted the lack of proper cross-examination or inquiry by the AO and CIT(A) and accepted the substantial evidence provided by the assessee, including a letter from the deceased mother and relevant documents, leading to a favorable outcome for the assessee. Case-Laws Income Tax Thu, 21 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241049