https://www.taxtmi.com/caselaws?id=358201 The Tribunal remitted the case back to the Assessing Officer for fresh adjudication regarding the treatment of cash deposits as undisclosed income, emphasizing the need to consider withdrawals in relation to deposits. The Tribunal also directed the deletion of the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961, as the additions were based on estimates rather than deliberate concealment of income. en-us Wed, 07 Feb 2018 00:00:00 +0530 Sat, 07 Apr 2018 07:56:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358201 The Tribunal remitted the case back to the Assessing Officer for fresh adjudication regarding the treatment of cash deposits as undisclosed income, emphasizing the need to consider withdrawals in relation to deposits. The Tribunal also directed the deletion of the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961, as the additions were based on estimates rather than deliberate concealment of income. Case-Laws Income Tax Wed, 07 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358201