https://www.taxtmi.com/caselaws?id=369068 An addition for alleged unexplained investment in money-lending activity was deleted because disclosed agricultural income and an opening bank balance were sufficient to explain the cash deposits, and there was no material showing unexplained sources. By contrast, an addition for notional interest income on short-term advances was sustained because the assessee advanced funds to several persons for short periods without charging interest and gave no satisfactory explanation for that conduct. The result was partial relief: the unexplained-investment addition was removed, while the notional interest addition was maintained. en-us Wed, 17 Oct 2018 00:00:00 +0530 Sat, 20 Oct 2018 09:58:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369068 An addition for alleged unexplained investment in money-lending activity was deleted because disclosed agricultural income and an opening bank balance were sufficient to explain the cash deposits, and there was no material showing unexplained sources. By contrast, an addition for notional interest income on short-term advances was sustained because the assessee advanced funds to several persons for short periods without charging interest and gave no satisfactory explanation for that conduct. The result was partial relief: the unexplained-investment addition was removed, while the notional interest addition was maintained. Case-Laws Income Tax Wed, 17 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369068