https://www.taxtmi.com/caselaws?id=242659 The Tribunal partly allowed the assessee's appeal, dismissing the addition of the unexplained gift and unexplained cash while allowing the appeal on the addition of household withdrawals. The Tribunal upheld the Assessing Officer's decision regarding the unexplained gift due to lack of evidence supporting the genuineness and creditworthiness of the gift. The Tribunal also found the evidence provided by the assessee regarding the unexplained cash to be lacking, leading to the dismissal of that addition. However, the Tribunal overturned the addition of household withdrawals, citing insufficient reasoning for the higher estimate made by the Assessing Officer. en-us Fri, 28 Jun 2013 00:00:00 +0530 Tue, 15 Mar 2016 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242659 The Tribunal partly allowed the assessee's appeal, dismissing the addition of the unexplained gift and unexplained cash while allowing the appeal on the addition of household withdrawals. The Tribunal upheld the Assessing Officer's decision regarding the unexplained gift due to lack of evidence supporting the genuineness and creditworthiness of the gift. The Tribunal also found the evidence provided by the assessee regarding the unexplained cash to be lacking, leading to the dismissal of that addition. However, the Tribunal overturned the addition of household withdrawals, citing insufficient reasoning for the higher estimate made by the Assessing Officer. Case-Laws Income Tax Fri, 28 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242659