https://www.taxtmi.com/caselaws?id=375640 The appeal of the Assessee was allowed, and the addition of unexplained income under section 68 of the I.T. Act, 1961 for A.Y. 2011-2012 was removed. The Tribunal found that the Assessing Officer failed to provide evidence of the cash being spent elsewhere, leading to the deletion of the entire addition. The Tribunal emphasized the adequacy of the cash flow statement in explaining the source of deposits, setting aside the lower authorities' decisions. en-us Tue, 19 Feb 2019 00:00:00 +0530 Wed, 20 Feb 2019 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375640 The appeal of the Assessee was allowed, and the addition of unexplained income under section 68 of the I.T. Act, 1961 for A.Y. 2011-2012 was removed. The Tribunal found that the Assessing Officer failed to provide evidence of the cash being spent elsewhere, leading to the deletion of the entire addition. The Tribunal emphasized the adequacy of the cash flow statement in explaining the source of deposits, setting aside the lower authorities' decisions. Case-Laws Income Tax Tue, 19 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375640