https://www.taxtmi.com/caselaws?id=400717 The Tribunal directed the Assessing Officer to accept the declared income of Rs. 1,79,200 as business income, partially allowing the appeal. The decision was based on the nature of bank account entries, regular cash transactions, and VAT payments, indicating business activities. The Tribunal emphasized the preponderance of probabilities favoring the assessee's business operations. The onus was on the assessee to substantiate business activities and the source of cash deposits, which was deemed satisfied based on the evidence presented. en-us Thu, 22 Oct 2020 00:00:00 +0530 Mon, 16 Nov 2020 17:31:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400717 The Tribunal directed the Assessing Officer to accept the declared income of Rs. 1,79,200 as business income, partially allowing the appeal. The decision was based on the nature of bank account entries, regular cash transactions, and VAT payments, indicating business activities. The Tribunal emphasized the preponderance of probabilities favoring the assessee's business operations. The onus was on the assessee to substantiate business activities and the source of cash deposits, which was deemed satisfied based on the evidence presented. Case-Laws Income Tax Thu, 22 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400717