https://www.taxtmi.com/caselaws?id=419425 The Tribunal set aside the CIT(A)'s decision and remanded the case to the AO for a fresh assessment based on the returns filed by the appellant and partnership firms for relevant years. The Tribunal emphasized the importance of verifying the source of accretions to the capital account before disallowing any part of the opening capital balance for Assessment Year 2014-15. The decision stressed the significance of following due process and conducting a legal examination of sources before making adjustments to the appellant's income. en-us Tue, 22 Feb 2022 00:00:00 +0530 Fri, 11 Mar 2022 07:59:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419425 The Tribunal set aside the CIT(A)'s decision and remanded the case to the AO for a fresh assessment based on the returns filed by the appellant and partnership firms for relevant years. The Tribunal emphasized the importance of verifying the source of accretions to the capital account before disallowing any part of the opening capital balance for Assessment Year 2014-15. The decision stressed the significance of following due process and conducting a legal examination of sources before making adjustments to the appellant's income. Case-Laws Income Tax Tue, 22 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419425