https://www.taxtmi.com/caselaws?id=394803 The tribunal allowed the appeal, ruling in favor of the assessee and deleting the addition of undisclosed income of Rs. 25.00 lacs made by the Assessing Officer. The tribunal accepted new evidence presented by the assessee, emphasizing transactions conducted through account payee cheques with supporting bank statements and joint bank account evidence. It held that the transactions with the deceased person were genuine, rejecting the application of various sections under the Income Tax Act. The tribunal also disagreed with the CIT(A)'s rejection of a clarification letter, citing time constraints. The appeal was allowed, and the decision was rendered on 18th February 2020. en-us Tue, 18 Feb 2020 00:00:00 +0530 Sat, 25 Apr 2020 12:07:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394803 The tribunal allowed the appeal, ruling in favor of the assessee and deleting the addition of undisclosed income of Rs. 25.00 lacs made by the Assessing Officer. The tribunal accepted new evidence presented by the assessee, emphasizing transactions conducted through account payee cheques with supporting bank statements and joint bank account evidence. It held that the transactions with the deceased person were genuine, rejecting the application of various sections under the Income Tax Act. The tribunal also disagreed with the CIT(A)'s rejection of a clarification letter, citing time constraints. The appeal was allowed, and the decision was rendered on 18th February 2020. Case-Laws Income Tax Tue, 18 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394803