https://www.taxtmi.com/caselaws?id=341497 A cash credit account was held to belong to the HUF rather than the individual assessee, based on the account-opening records, bank confirmation, affidavit, and the explanation for HUF use of the facility. The absence of a HUF PAN at the relevant time did not defeat that claim. Cash deposits were also explained as receipts from Darshan Traders and related business transactions, and the source of funds was accepted from the material on record. On that basis, the addition as unexplained investment was not sustained and the disputed additions were deleted in favour of the assessee. en-us Fri, 31 Mar 2017 00:00:00 +0530 Tue, 11 Apr 2017 07:31:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341497 A cash credit account was held to belong to the HUF rather than the individual assessee, based on the account-opening records, bank confirmation, affidavit, and the explanation for HUF use of the facility. The absence of a HUF PAN at the relevant time did not defeat that claim. Cash deposits were also explained as receipts from Darshan Traders and related business transactions, and the source of funds was accepted from the material on record. On that basis, the addition as unexplained investment was not sustained and the disputed additions were deleted in favour of the assessee. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341497