https://www.taxtmi.com/caselaws?id=15942 The Tribunal confirmed the deletion of additions of unexplained income and interest based on findings that the promissory notes were executed in 1982 and the income had already been taxed in a previous assessment year. The interest addition was also deleted as the assessee was not following the mercantile system of accounting. The application under section 256(1) was rejected as the issues were factual rather than legal, leading to the affirmation of the Tribunal's decision. en-us Tue, 20 Apr 1999 00:00:00 +0530 Mon, 31 Aug 2009 11:08:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15942 The Tribunal confirmed the deletion of additions of unexplained income and interest based on findings that the promissory notes were executed in 1982 and the income had already been taxed in a previous assessment year. The interest addition was also deleted as the assessee was not following the mercantile system of accounting. The application under section 256(1) was rejected as the issues were factual rather than legal, leading to the affirmation of the Tribunal's decision. Case-Laws Income Tax Tue, 20 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15942