https://www.taxtmi.com/caselaws?id=326747 The Tribunal dismissed the revenue's appeal on both issues, upholding the CIT(A)'s decisions. Regarding the addition of unexplained expenditure under section 69C for household expenses, the Tribunal found that the Assessing Officer failed to prove additional personal expenses beyond the disclosed amount and that cash withdrawals from the bank indicated a legitimate source for household expenses. Concerning the addition of unexplained cash credit under section 68 for a received loan, the Tribunal determined that the transaction was genuine, made through proper banking channels, and met the requirements of section 68, citing relevant case law. en-us Mon, 29 Feb 2016 00:00:00 +0530 Sat, 23 Apr 2016 10:55:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326747 The Tribunal dismissed the revenue's appeal on both issues, upholding the CIT(A)'s decisions. Regarding the addition of unexplained expenditure under section 69C for household expenses, the Tribunal found that the Assessing Officer failed to prove additional personal expenses beyond the disclosed amount and that cash withdrawals from the bank indicated a legitimate source for household expenses. Concerning the addition of unexplained cash credit under section 68 for a received loan, the Tribunal determined that the transaction was genuine, made through proper banking channels, and met the requirements of section 68, citing relevant case law. Case-Laws Income Tax Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326747