https://www.taxtmi.com/caselaws?id=13695 The High Court upheld the Tribunal's decision to delete the addition of Rs. 10 lakhs as unexplained credit under the Income-tax Act, 1961. The Court found that the assessee, a non-resident from Sri Lanka, had sufficient documented sources in Sri Lanka to cover the remittances to India, meeting the conditions of a CBDT circular. Emphasizing the factual findings and valid evidence supporting the Tribunal's decision, the Court dismissed the Revenue's appeal, stating no legal infirmity existed, and no substantial question of law arose for consideration. en-us Thu, 12 Jul 2007 00:00:00 +0530 Thu, 01 Jan 2015 12:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13695 The High Court upheld the Tribunal's decision to delete the addition of Rs. 10 lakhs as unexplained credit under the Income-tax Act, 1961. The Court found that the assessee, a non-resident from Sri Lanka, had sufficient documented sources in Sri Lanka to cover the remittances to India, meeting the conditions of a CBDT circular. Emphasizing the factual findings and valid evidence supporting the Tribunal's decision, the Court dismissed the Revenue's appeal, stating no legal infirmity existed, and no substantial question of law arose for consideration. Case-Laws Income Tax Thu, 12 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13695