https://www.taxtmi.com/caselaws?id=256214 The High Court allowed the assessee's appeal against the Income Tax Appellate Tribunal's decision to add Rs. 3.90 lacs to the income for Assessment Year 1987-88. The Court found that the explanation provided by the assessee regarding the seized money was satisfactory, considering the detailed cash distribution among family members and the creditors' entries in their accounts. Relying on legal precedents and the totality of facts, the Court ruled in favor of the assessee, setting aside all previous orders and deleting the addition of Rs. 3.90 lacs. en-us Wed, 04 Feb 2015 00:00:00 +0530 Thu, 07 May 2015 17:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256214 The High Court allowed the assessee's appeal against the Income Tax Appellate Tribunal's decision to add Rs. 3.90 lacs to the income for Assessment Year 1987-88. The Court found that the explanation provided by the assessee regarding the seized money was satisfactory, considering the detailed cash distribution among family members and the creditors' entries in their accounts. Relying on legal precedents and the totality of facts, the Court ruled in favor of the assessee, setting aside all previous orders and deleting the addition of Rs. 3.90 lacs. Case-Laws Income Tax Wed, 04 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256214