https://www.taxtmi.com/caselaws?id=19559 HC upheld the Tribunal's findings, ruling for the assessee. The Tribunal properly deleted an Rs. 81,000 addition under s.69A after finding the company's books showed a cash balance exceeding the deposited high-denomination notes, so the deposit was not unexplained income. The Tribunal's factual conclusion was not perverse and its reliance on precedents was justified. The Tribunal also rightly cancelled the penalty under s.271(1)(c), finding no concealment or deliberate misrepresentation. HC found no infirmity in the Tribunal's fact-driven conclusions and dismissed the challenge. en-us Tue, 04 Jan 1994 00:00:00 +0530 Wed, 01 Oct 2025 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19559 HC upheld the Tribunal's findings, ruling for the assessee. The Tribunal properly deleted an Rs. 81,000 addition under s.69A after finding the company's books showed a cash balance exceeding the deposited high-denomination notes, so the deposit was not unexplained income. The Tribunal's factual conclusion was not perverse and its reliance on precedents was justified. The Tribunal also rightly cancelled the penalty under s.271(1)(c), finding no concealment or deliberate misrepresentation. HC found no infirmity in the Tribunal's fact-driven conclusions and dismissed the challenge. Case-Laws Income Tax Tue, 04 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19559