https://www.taxtmi.com/caselaws?id=423305 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 4.75 crores as unexplained cash credit. It was found that there was no violation of Rule 46A, as the CIT(A) did not admit new evidence but re-evaluated existing information. The Tribunal agreed that the addition was made in the wrong assessment year, rendering the assessment order legally unsustainable. The appeal was dismissed on May 20th, 2022. en-us Fri, 20 May 2022 00:00:00 +0530 Fri, 03 Jun 2022 13:01:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423305 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 4.75 crores as unexplained cash credit. It was found that there was no violation of Rule 46A, as the CIT(A) did not admit new evidence but re-evaluated existing information. The Tribunal agreed that the addition was made in the wrong assessment year, rendering the assessment order legally unsustainable. The appeal was dismissed on May 20th, 2022. Case-Laws Income Tax Fri, 20 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423305