https://www.taxtmi.com/caselaws?id=18274 The Income-tax Appellate Tribunal was justified in accepting the assessee's argument for set off of unexplained cash credits against the estimated addition to business income. The Tribunal was also justified in telescoping the unexplained credits with the estimated addition to business income towards deficiency in gross profit. The court emphasized the Tribunal's discretion in considering additional grounds and the permissibility of adjusting tax liability based on findings, ruling in favor of the assessee over the Revenue. en-us Wed, 04 Sep 1996 00:00:00 +0530 Tue, 29 Sep 2009 17:53:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18274 The Income-tax Appellate Tribunal was justified in accepting the assessee's argument for set off of unexplained cash credits against the estimated addition to business income. The Tribunal was also justified in telescoping the unexplained credits with the estimated addition to business income towards deficiency in gross profit. The court emphasized the Tribunal's discretion in considering additional grounds and the permissibility of adjusting tax liability based on findings, ruling in favor of the assessee over the Revenue. Case-Laws Income Tax Wed, 04 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18274