https://www.taxtmi.com/caselaws?id=344288 The Tribunal allowed the assessee's appeal, overturning the CIT(A)'s decision and directing the AO to delete the addition to the extent of Rs. 10,67,992, confirming the balance addition of Rs. 19,85,008. The Tribunal found that since the turnover declared already included all deposits, no further addition on account of the deposited amount was justified. The Tribunal emphasized that the AO should consider the benefit of withdrawals when treating deposits as income. en-us Fri, 02 Jun 2017 00:00:00 +0530 Wed, 14 Jun 2017 08:12:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344288 The Tribunal allowed the assessee's appeal, overturning the CIT(A)'s decision and directing the AO to delete the addition to the extent of Rs. 10,67,992, confirming the balance addition of Rs. 19,85,008. The Tribunal found that since the turnover declared already included all deposits, no further addition on account of the deposited amount was justified. The Tribunal emphasized that the AO should consider the benefit of withdrawals when treating deposits as income. Case-Laws Income Tax Fri, 02 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344288