https://www.taxtmi.com/caselaws?id=297055 The Tribunal dismissed the Revenue's appeal, confirming the deletion of the addition of Rs. 50,00,000/- to the assessee's income. The Tribunal found that the assessee had provided ample evidence to support the source of the cash deposits, while the Assessing Officer failed to produce contradictory evidence. The Tribunal emphasized that the AO's doubts lacked legal basis or substantial proof, and the assessee's explanations and evidence were deemed credible and in line with legal precedents. en-us Mon, 08 Aug 2016 00:00:00 +0530 Wed, 18 Aug 2021 09:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297055 The Tribunal dismissed the Revenue's appeal, confirming the deletion of the addition of Rs. 50,00,000/- to the assessee's income. The Tribunal found that the assessee had provided ample evidence to support the source of the cash deposits, while the Assessing Officer failed to produce contradictory evidence. The Tribunal emphasized that the AO's doubts lacked legal basis or substantial proof, and the assessee's explanations and evidence were deemed credible and in line with legal precedents. Case-Laws Income Tax Mon, 08 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297055