https://www.taxtmi.com/caselaws?id=345760 The Court dismissed the appeal against the ITAT order, upholding the deletions made by the ITAT under Sections 158BC and 158BD of the Income Tax Act. The additions by the Assessing Officer were found to lack incriminating material and were deleted by the ITAT. The Assessee's explanations for unexplained capital and cash credits were accepted, leading to the deletions being deemed justified. The Court ruled in favor of the Assessee, citing the lack of perversity in the ITAT's order and insufficient grounds for interference, with no costs awarded. en-us Wed, 19 Jul 2017 00:00:00 +0530 Wed, 26 Jul 2017 08:16:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345760 The Court dismissed the appeal against the ITAT order, upholding the deletions made by the ITAT under Sections 158BC and 158BD of the Income Tax Act. The additions by the Assessing Officer were found to lack incriminating material and were deleted by the ITAT. The Assessee's explanations for unexplained capital and cash credits were accepted, leading to the deletions being deemed justified. The Court ruled in favor of the Assessee, citing the lack of perversity in the ITAT's order and insufficient grounds for interference, with no costs awarded. Case-Laws Income Tax Wed, 19 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345760