https://www.taxtmi.com/caselaws?id=337951 The court ruled in favor of the assessee, holding that transactions with Mutual Fund were genuine business transactions and not designed to avoid taxation. The court relied on a previous judgment by the Apex Court and upheld the decision of the Bombay High Court. Additionally, the deletion of the addition regarding unexplained money in share transactions was justified as the transactions were deemed genuine and not manipulated. The burden of proof was on the department, which they failed to meet. The court disposed of the appeal in favor of the assessee, deeming other questions as academic and not requiring further consideration. en-us Thu, 22 Dec 2016 00:00:00 +0530 Sat, 21 Jan 2017 07:32:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337951 The court ruled in favor of the assessee, holding that transactions with Mutual Fund were genuine business transactions and not designed to avoid taxation. The court relied on a previous judgment by the Apex Court and upheld the decision of the Bombay High Court. Additionally, the deletion of the addition regarding unexplained money in share transactions was justified as the transactions were deemed genuine and not manipulated. The burden of proof was on the department, which they failed to meet. The court disposed of the appeal in favor of the assessee, deeming other questions as academic and not requiring further consideration. Case-Laws Income Tax Thu, 22 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337951