https://www.taxtmi.com/caselaws?id=374884 The Tribunal allowed the appellant's appeal, overturning the addition of unexplained cash deposits in bank accounts and the disallowance of plot registration expenses made by the Assessing Officer. The appellant successfully demonstrated that the cash deposits were from opening balances and gifts, used for purchasing a house. The Tribunal found the AO's actions unjustified, emphasizing the appellant's regular tax filings and balance sheets as supporting evidence. Additionally, the Tribunal highlighted the credibility of gifts received from the appellant's parents, ultimately ruling in favor of the appellant and deleting both disputed additions. en-us Wed, 16 Jan 2019 00:00:00 +0530 Tue, 12 Feb 2019 07:05:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374884 The Tribunal allowed the appellant's appeal, overturning the addition of unexplained cash deposits in bank accounts and the disallowance of plot registration expenses made by the Assessing Officer. The appellant successfully demonstrated that the cash deposits were from opening balances and gifts, used for purchasing a house. The Tribunal found the AO's actions unjustified, emphasizing the appellant's regular tax filings and balance sheets as supporting evidence. Additionally, the Tribunal highlighted the credibility of gifts received from the appellant's parents, ultimately ruling in favor of the appellant and deleting both disputed additions. Case-Laws Income Tax Wed, 16 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374884