https://www.taxtmi.com/caselaws?id=416630 The Tribunal allowed the assessee's appeal, vacating the addition of Rs. 55,01,000 to the returned income. It criticized the lower authorities for not adequately verifying the timing of cash deposits and the source of funds, emphasizing the importance of thorough investigation in tax assessments. The Tribunal found merit in the assessee's explanation that the cash deposits were sourced from advances mentioned in the sale deeds, highlighting the lack of evidence contradicting this claim. en-us Tue, 28 Dec 2021 00:00:00 +0530 Mon, 03 Jan 2022 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416630 The Tribunal allowed the assessee's appeal, vacating the addition of Rs. 55,01,000 to the returned income. It criticized the lower authorities for not adequately verifying the timing of cash deposits and the source of funds, emphasizing the importance of thorough investigation in tax assessments. The Tribunal found merit in the assessee's explanation that the cash deposits were sourced from advances mentioned in the sale deeds, highlighting the lack of evidence contradicting this claim. Case-Laws Income Tax Tue, 28 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416630