https://www.taxtmi.com/caselaws?id=260870 The case involved cross appeals challenging additions under section 69 of the Income Tax Act related to bank deposits and unexplained cash deposits. The CIT(A) accepted fresh evidence supporting the source of funds for one addition but confirmed another addition due to discrepancies in cash flow. The Tribunal remanded the case for a fresh assessment, emphasizing the need for thorough examination of financial activities and cash flow details. Both parties' appeals were allowed for statistical purposes, leading to a remand for a new assessment in compliance with the law. en-us Thu, 19 Feb 2015 00:00:00 +0530 Fri, 26 Jun 2015 10:23:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260870 The case involved cross appeals challenging additions under section 69 of the Income Tax Act related to bank deposits and unexplained cash deposits. The CIT(A) accepted fresh evidence supporting the source of funds for one addition but confirmed another addition due to discrepancies in cash flow. The Tribunal remanded the case for a fresh assessment, emphasizing the need for thorough examination of financial activities and cash flow details. Both parties' appeals were allowed for statistical purposes, leading to a remand for a new assessment in compliance with the law. Case-Laws Income Tax Thu, 19 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260870