https://www.taxtmi.com/caselaws?id=260438 The Tribunal allowed the Revenue's appeal concerning disallowance under section 40A(3) of the Income Tax Act, directing the Assessing Officer to re-examine the issue due to discrepancies in facts presented. Additionally, the Tribunal upheld the Revenue's appeal on the addition of undisclosed income, instructing a re-examination to establish the linkage between withdrawals and deposits for specific transactions, emphasizing the importance of accurate explanations and providing necessary evidence. The cases were remanded for a fresh assessment, ensuring parties a fair opportunity to present their case. en-us Wed, 27 May 2015 00:00:00 +0530 Fri, 12 Jun 2015 05:54:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260438 The Tribunal allowed the Revenue's appeal concerning disallowance under section 40A(3) of the Income Tax Act, directing the Assessing Officer to re-examine the issue due to discrepancies in facts presented. Additionally, the Tribunal upheld the Revenue's appeal on the addition of undisclosed income, instructing a re-examination to establish the linkage between withdrawals and deposits for specific transactions, emphasizing the importance of accurate explanations and providing necessary evidence. The cases were remanded for a fresh assessment, ensuring parties a fair opportunity to present their case. Case-Laws Income Tax Wed, 27 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260438