https://www.taxtmi.com/caselaws?id=302346 The Tribunal upheld the addition of Rs. 61,01,104/- as unaccounted income of the firm, concluding that the seized documents belonged to the firm and the assessee failed to rebut the presumption of their authenticity. The Tribunal dismissed the appeal, emphasizing the firm's inability to prove that the withdrawals were personal transactions of the partners and not the firm's income. The order was not considered barred by limitation, with the Tribunal focusing on the substantive issues of the case rather than the limitation aspect. en-us Wed, 15 Dec 2021 00:00:00 +0530 Thu, 19 May 2022 20:44:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302346 The Tribunal upheld the addition of Rs. 61,01,104/- as unaccounted income of the firm, concluding that the seized documents belonged to the firm and the assessee failed to rebut the presumption of their authenticity. The Tribunal dismissed the appeal, emphasizing the firm's inability to prove that the withdrawals were personal transactions of the partners and not the firm's income. The order was not considered barred by limitation, with the Tribunal focusing on the substantive issues of the case rather than the limitation aspect. Case-Laws Income Tax Wed, 15 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302346