https://www.taxtmi.com/caselaws?id=295408 The Tribunal reduced the addition of unexplained income from Rs. 31,16,600/- to Rs. 2 lakh, based on the inference that the funds were likely used for business purposes. The assessee's explanation, supported by cash flow statements, was considered sufficient to establish the source of deposits. The Tribunal partially allowed the assessee's appeal and dismissed the revenue's appeal in the case. en-us Tue, 31 Jan 2012 00:00:00 +0530 Wed, 02 Jun 2021 12:05:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295408 The Tribunal reduced the addition of unexplained income from Rs. 31,16,600/- to Rs. 2 lakh, based on the inference that the funds were likely used for business purposes. The assessee's explanation, supported by cash flow statements, was considered sufficient to establish the source of deposits. The Tribunal partially allowed the assessee's appeal and dismissed the revenue's appeal in the case. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295408