https://www.taxtmi.com/caselaws?id=270280 The ITAT upheld the CIT (A) decisions in a case involving treatment of income from cash deposits, depreciation method for windmill investment, and penalty on cash deposits. The ITAT dismissed the Revenue's appeals, confirming that the accepted income from the business should determine the nature of cash deposits, depreciation should follow the assessee's claimed method, and penalties on cash deposits lacked conclusive proof of being from undisclosed sources. The ITAT affirmed the CIT (A) orders on all issues, resulting in the dismissal of both the quantum and penalty appeals by the Revenue. en-us Thu, 15 Oct 2015 00:00:00 +0530 Sat, 02 Jan 2016 10:13:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270280 The ITAT upheld the CIT (A) decisions in a case involving treatment of income from cash deposits, depreciation method for windmill investment, and penalty on cash deposits. The ITAT dismissed the Revenue's appeals, confirming that the accepted income from the business should determine the nature of cash deposits, depreciation should follow the assessee's claimed method, and penalties on cash deposits lacked conclusive proof of being from undisclosed sources. The ITAT affirmed the CIT (A) orders on all issues, resulting in the dismissal of both the quantum and penalty appeals by the Revenue. Case-Laws Income Tax Thu, 15 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270280