https://www.taxtmi.com/caselaws?id=359253 The ITAT remanded the issue of a Rs. 9,00,000 deposit back to the Assessing Officer for further examination due to discrepancies in the explanations provided by the assessee. The ITAT set aside the decision on a Rs. 1,70,000 deposit, finding no evidence to suggest the withdrawals could not have been used for the subsequent deposit. The ITAT partially allowed the appeal, emphasizing the importance of maintaining accurate financial records and providing substantial evidence in cases involving unexplained cash deposits. The decision aimed to ensure a fair assessment while granting partial relief to the assessee based on the evidence presented. en-us Fri, 20 Apr 2018 00:00:00 +0530 Thu, 26 Apr 2018 09:38:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359253 The ITAT remanded the issue of a Rs. 9,00,000 deposit back to the Assessing Officer for further examination due to discrepancies in the explanations provided by the assessee. The ITAT set aside the decision on a Rs. 1,70,000 deposit, finding no evidence to suggest the withdrawals could not have been used for the subsequent deposit. The ITAT partially allowed the appeal, emphasizing the importance of maintaining accurate financial records and providing substantial evidence in cases involving unexplained cash deposits. The decision aimed to ensure a fair assessment while granting partial relief to the assessee based on the evidence presented. Case-Laws Income Tax Fri, 20 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359253