https://www.taxtmi.com/caselaws?id=179766 The Appellate Tribunal dismissed the Revenue's appeal and upheld the Commissioner of Income Tax (Appeals) decision to restrict the addition to Rs. 7,95,160. The Tribunal found the explanations provided by the assessee satisfactory, emphasizing the absence of evidence of cash diversion or artificial cash balances. The decision was based on the peak cash balance during the year, supporting the assessee's position and rejecting the Revenue's argument regarding the use of cash withdrawals for other purposes. en-us Fri, 27 Sep 2013 00:00:00 +0530 Sat, 05 Nov 2016 21:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179766 The Appellate Tribunal dismissed the Revenue's appeal and upheld the Commissioner of Income Tax (Appeals) decision to restrict the addition to Rs. 7,95,160. The Tribunal found the explanations provided by the assessee satisfactory, emphasizing the absence of evidence of cash diversion or artificial cash balances. The decision was based on the peak cash balance during the year, supporting the assessee's position and rejecting the Revenue's argument regarding the use of cash withdrawals for other purposes. Case-Laws Income Tax Fri, 27 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179766