https://www.taxtmi.com/caselaws?id=400691 The Tribunal allowed both appeals, overturning additions made by the Ld. AO and Ld. CIT (A) in cases involving unexplained investments and expenditure. The Tribunal found that the deposits in bank accounts were from the sale proceeds of agricultural land, criticizing Revenue Authorities for not examining all relevant parties. Additionally, the claimed expenditure by Sri Sunil Kumar Bommineni was supported by accumulated funds and income as an insurance commission agent. Consequently, the Tribunal directed the deletion of the added amounts from the assesses' income in both cases. en-us Wed, 08 Jul 2020 00:00:00 +0530 Fri, 13 Nov 2020 20:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400691 The Tribunal allowed both appeals, overturning additions made by the Ld. AO and Ld. CIT (A) in cases involving unexplained investments and expenditure. The Tribunal found that the deposits in bank accounts were from the sale proceeds of agricultural land, criticizing Revenue Authorities for not examining all relevant parties. Additionally, the claimed expenditure by Sri Sunil Kumar Bommineni was supported by accumulated funds and income as an insurance commission agent. Consequently, the Tribunal directed the deletion of the added amounts from the assesses' income in both cases. Case-Laws Income Tax Wed, 08 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400691