https://www.taxtmi.com/caselaws?id=244575 The ITAT upheld the CIT(A)'s decision to delete the addition of Rs.15,72,000 as unexplained deposits in the hands of the assessee for A.Y. 2005-06. The ITAT found that the elder brother's ownership of the bank account and the transactions therein were duly reflected in his return of income, with no additions by the Revenue. Consequently, the protective assessment on the assessee was deemed unnecessary, leading to the dismissal of both the Revenue's appeal and the assessee's cross objection. en-us Wed, 26 Feb 2014 00:00:00 +0530 Sat, 01 Mar 2014 11:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244575 The ITAT upheld the CIT(A)'s decision to delete the addition of Rs.15,72,000 as unexplained deposits in the hands of the assessee for A.Y. 2005-06. The ITAT found that the elder brother's ownership of the bank account and the transactions therein were duly reflected in his return of income, with no additions by the Revenue. Consequently, the protective assessment on the assessee was deemed unnecessary, leading to the dismissal of both the Revenue's appeal and the assessee's cross objection. Case-Laws Income Tax Wed, 26 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244575