https://www.taxtmi.com/caselaws?id=189194 The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals) to restrict the addition to unexplained deposits in the bank account of the assessee. The Tribunal found that the transactions indicated a business activity and estimated the net profit at 20% of total cash deposits. Despite inconsistent explanations from the assessee, the Tribunal deemed the CIT(A)'s decision reasonable and dismissed the Revenue's appeal, emphasizing the lack of proper documentation supporting the assessee's claims. en-us Fri, 18 Sep 2015 00:00:00 +0530 Sat, 31 Dec 2016 12:56:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189194 The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals) to restrict the addition to unexplained deposits in the bank account of the assessee. The Tribunal found that the transactions indicated a business activity and estimated the net profit at 20% of total cash deposits. Despite inconsistent explanations from the assessee, the Tribunal deemed the CIT(A)'s decision reasonable and dismissed the Revenue's appeal, emphasizing the lack of proper documentation supporting the assessee's claims. Case-Laws Income Tax Fri, 18 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189194