https://www.taxtmi.com/caselaws?id=4081 The Madhya Pradesh High Court ruled in favor of the assessee in an income tax assessment case. The court found that the Tribunal unjustly rejected the explanation provided by the assessee regarding the source of seized money, emphasizing the proximity of cash withdrawals to the date of seizure. Additionally, the court held that evidence collected from bankers without granting the assessee an opportunity to explain was inadmissible. The court disagreed with the Tribunal's decision to set aside the Commissioner of Income-tax (Appeals) order, ultimately allowing the appeal and ruling in favor of the assessee. en-us Wed, 28 Jun 2006 00:00:00 +0530 Sat, 26 Jul 2008 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4081 The Madhya Pradesh High Court ruled in favor of the assessee in an income tax assessment case. The court found that the Tribunal unjustly rejected the explanation provided by the assessee regarding the source of seized money, emphasizing the proximity of cash withdrawals to the date of seizure. Additionally, the court held that evidence collected from bankers without granting the assessee an opportunity to explain was inadmissible. The court disagreed with the Tribunal's decision to set aside the Commissioner of Income-tax (Appeals) order, ultimately allowing the appeal and ruling in favor of the assessee. Case-Laws Income Tax Wed, 28 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4081