https://www.taxtmi.com/caselaws?id=414149 The Tribunal partially allowed the assessee's appeal, remitting the matter of the addition of Rs. 5.50 lacs under Section 68 of the Income Tax Act back to the Assessing Officer for fresh adjudication. The addition of Rs. 60,000 towards low household withdrawals was upheld. The Tribunal directed the AO to objectively assess the cash availability variables and make a decision in accordance with the law after affording a reasonable opportunity to the assessee to present their case. en-us Fri, 22 Oct 2021 00:00:00 +0530 Fri, 29 Oct 2021 05:22:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414149 The Tribunal partially allowed the assessee's appeal, remitting the matter of the addition of Rs. 5.50 lacs under Section 68 of the Income Tax Act back to the Assessing Officer for fresh adjudication. The addition of Rs. 60,000 towards low household withdrawals was upheld. The Tribunal directed the AO to objectively assess the cash availability variables and make a decision in accordance with the law after affording a reasonable opportunity to the assessee to present their case. Case-Laws Income Tax Fri, 22 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414149