https://www.taxtmi.com/caselaws?id=400139 The tribunal allowed both appeals filed by Samir N. Mehta and Akshay A. Sawant, as it found proper verification of cash deposits by the Assessing Officers and concluded that the cash did not pertain to the assessee but was used for business purposes by another individual. The tribunal set aside the orders under section 263 of the Income-tax Act, 1961, affirming the original assessment orders in both cases, emphasizing the similarity in facts and circumstances. en-us Mon, 26 Oct 2020 00:00:00 +0530 Thu, 29 Oct 2020 09:28:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400139 The tribunal allowed both appeals filed by Samir N. Mehta and Akshay A. Sawant, as it found proper verification of cash deposits by the Assessing Officers and concluded that the cash did not pertain to the assessee but was used for business purposes by another individual. The tribunal set aside the orders under section 263 of the Income-tax Act, 1961, affirming the original assessment orders in both cases, emphasizing the similarity in facts and circumstances. Case-Laws Income Tax Mon, 26 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400139