https://www.taxtmi.com/caselaws?id=258796 The Tribunal set aside the CIT(A)'s decision and directed the AO to delete the assessment of Rs. 1 crore as unexplained income made against the assessee. The Tribunal found that the tax authorities' assessment was based on suspicion and lacked concrete evidence, noting that the transactions were legitimate and not supported by disproven evidence. Consequently, the appeal filed by the assessee was allowed. en-us Wed, 08 Apr 2015 00:00:00 +0530 Fri, 17 Apr 2015 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258796 The Tribunal set aside the CIT(A)'s decision and directed the AO to delete the assessment of Rs. 1 crore as unexplained income made against the assessee. The Tribunal found that the tax authorities' assessment was based on suspicion and lacked concrete evidence, noting that the transactions were legitimate and not supported by disproven evidence. Consequently, the appeal filed by the assessee was allowed. Case-Laws Income Tax Wed, 08 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258796