https://www.taxtmi.com/caselaws?id=246194 The CIT(A) deleted the addition of unexplained credits in the bank account, considering them as allowable business expenses. The Tribunal directed the AO to recompute the profit and deleted the addition for seed capital. Routine additions without incriminating seized material were disallowed. Unexplained deposits were treated as business receipts. Additional evidence was accepted without allowing cross-examination. Protective additions were deleted. The outcome: some appeals were partly allowed, some dismissed, and some allowed for statistical purposes. en-us Fri, 21 Feb 2014 00:00:00 +0530 Mon, 22 Feb 2016 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246194 The CIT(A) deleted the addition of unexplained credits in the bank account, considering them as allowable business expenses. The Tribunal directed the AO to recompute the profit and deleted the addition for seed capital. Routine additions without incriminating seized material were disallowed. Unexplained deposits were treated as business receipts. Additional evidence was accepted without allowing cross-examination. Protective additions were deleted. The outcome: some appeals were partly allowed, some dismissed, and some allowed for statistical purposes. Case-Laws Income Tax Fri, 21 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246194