https://www.taxtmi.com/caselaws?id=409437 Property purchase addition was deleted because the purchase deed and bank trail showed the asset was acquired by a company, so the presence of an individual PAN did not make the consideration taxable in the assessee's hands. Cash deposits in the bank account were not treated as wholly unexplained because the lower authorities had not properly verified related withdrawals or made specific findings; the addition was restricted to Rs. 3.5 lakhs. Credit card payment addition was also deleted because it was linked to the same banking trail and the restricted cash deposit was treated as the source. en-us Wed, 30 Jun 2021 00:00:00 +0530 Thu, 08 Jul 2021 08:45:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409437 Property purchase addition was deleted because the purchase deed and bank trail showed the asset was acquired by a company, so the presence of an individual PAN did not make the consideration taxable in the assessee's hands. Cash deposits in the bank account were not treated as wholly unexplained because the lower authorities had not properly verified related withdrawals or made specific findings; the addition was restricted to Rs. 3.5 lakhs. Credit card payment addition was also deleted because it was linked to the same banking trail and the restricted cash deposit was treated as the source. Case-Laws Income Tax Wed, 30 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409437