https://www.taxtmi.com/caselaws?id=329791 The Tribunal re-evaluated undisclosed income cases for the block period 1997-98 to 2002-03, focusing on investments in Fixed Deposit Receipts (FDRs). It directed the Assessing Officer to consider factual explanations and business nature, reducing additions to business incomes. Notably, in the case of Late Prakashchand Nandlal Modi, the Tribunal allowed 25% credit from business income towards FDR sources. Relief was granted to various assessees, with lumpsum additions and deletions of excessive income additions, emphasizing fair assessment based on actual financial status and business activities. en-us Wed, 08 Jun 2016 00:00:00 +0530 Sat, 09 Jul 2016 11:34:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329791 The Tribunal re-evaluated undisclosed income cases for the block period 1997-98 to 2002-03, focusing on investments in Fixed Deposit Receipts (FDRs). It directed the Assessing Officer to consider factual explanations and business nature, reducing additions to business incomes. Notably, in the case of Late Prakashchand Nandlal Modi, the Tribunal allowed 25% credit from business income towards FDR sources. Relief was granted to various assessees, with lumpsum additions and deletions of excessive income additions, emphasizing fair assessment based on actual financial status and business activities. Case-Laws Income Tax Wed, 08 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329791