https://www.taxtmi.com/caselaws?id=338163 The Tribunal partially allowed the appeal against the CIT (A)'s order for AY 2006-07, challenging the addition of Rs. 17 lakhs. Despite non-maintenance of books of accounts, the Tribunal accepted the assessee's evidence, including a detailed affidavit and supporting documents, confirming cash deposits from legitimate book sales. The addition was reduced by Rs. 15 lakhs, recognizing the income source as legitimate, while Rs. 2 lakhs were treated as undisclosed income. The Tribunal emphasized the credibility of the evidence presented, leading to the partial deletion of the addition and acknowledgment of legitimate income sources. en-us Thu, 10 Nov 2016 00:00:00 +0530 Fri, 27 Jan 2017 08:59:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338163 The Tribunal partially allowed the appeal against the CIT (A)'s order for AY 2006-07, challenging the addition of Rs. 17 lakhs. Despite non-maintenance of books of accounts, the Tribunal accepted the assessee's evidence, including a detailed affidavit and supporting documents, confirming cash deposits from legitimate book sales. The addition was reduced by Rs. 15 lakhs, recognizing the income source as legitimate, while Rs. 2 lakhs were treated as undisclosed income. The Tribunal emphasized the credibility of the evidence presented, leading to the partial deletion of the addition and acknowledgment of legitimate income sources. Case-Laws Income Tax Thu, 10 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338163