https://www.taxtmi.com/caselaws?id=413446 The Tribunal partly allowed the assessee's appeal, directing the AO to delete the addition of Rs. 80,55,462 under Section 68 of the Income Tax Act, as the opening capital balance could not be treated as unexplained income. Additionally, the Tribunal instructed the AO to verify and delete the addition of Rs. 4,20,519 under Section 69, relating to repayment of principal and interest on a housing loan, as the documentary evidence provided by the assessee substantiated the legitimate source of payments. en-us Tue, 31 Aug 2021 00:00:00 +0530 Tue, 12 Oct 2021 09:29:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413446 The Tribunal partly allowed the assessee's appeal, directing the AO to delete the addition of Rs. 80,55,462 under Section 68 of the Income Tax Act, as the opening capital balance could not be treated as unexplained income. Additionally, the Tribunal instructed the AO to verify and delete the addition of Rs. 4,20,519 under Section 69, relating to repayment of principal and interest on a housing loan, as the documentary evidence provided by the assessee substantiated the legitimate source of payments. Case-Laws Income Tax Tue, 31 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413446