https://www.taxtmi.com/caselaws?id=408393 The appellate tribunal ruled in favor of the aggrieved party, overturning the additions made by the Assessing Officer under section 69A of the Income Tax Act. The tribunal found that the party had adequately explained the cash deposits by demonstrating consistent cash balances at year-end and disproving the Revenue's claim of unexplained money. As a result, the tribunal directed the Assessing Officer to delete the additions for the respective assessment years, emphasizing the Revenue's obligation to provide concrete evidence before making such additions to an individual's income. en-us Tue, 08 Jun 2021 00:00:00 +0530 Wed, 09 Jun 2021 09:26:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408393 The appellate tribunal ruled in favor of the aggrieved party, overturning the additions made by the Assessing Officer under section 69A of the Income Tax Act. The tribunal found that the party had adequately explained the cash deposits by demonstrating consistent cash balances at year-end and disproving the Revenue's claim of unexplained money. As a result, the tribunal directed the Assessing Officer to delete the additions for the respective assessment years, emphasizing the Revenue's obligation to provide concrete evidence before making such additions to an individual's income. Case-Laws Income Tax Tue, 08 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408393