https://www.taxtmi.com/caselaws?id=396400 The Tribunal allowed the appeal, ruling in favor of the non-resident assessee. It found the explanation provided for the cash deposit in the NRO bank account to be reasonable, considering the disclosed income sources, the immediate deposit upon arrival in India, and the absence of adverse findings on undisclosed income. Emphasizing the importance of a reasonable explanation in tax matters, the Tribunal deleted the addition made by the Assessing Officer under section 69 of the Income Tax Act. en-us Wed, 24 Jun 2020 00:00:00 +0530 Fri, 03 Jul 2020 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396400 The Tribunal allowed the appeal, ruling in favor of the non-resident assessee. It found the explanation provided for the cash deposit in the NRO bank account to be reasonable, considering the disclosed income sources, the immediate deposit upon arrival in India, and the absence of adverse findings on undisclosed income. Emphasizing the importance of a reasonable explanation in tax matters, the Tribunal deleted the addition made by the Assessing Officer under section 69 of the Income Tax Act. Case-Laws Income Tax Wed, 24 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396400