https://www.taxtmi.com/caselaws?id=426489 The Tribunal partially allowed the Appeal by directing the Assessing Officer to delete the addition of Rs. 1,80,000/- in loan repayments to related persons due to lack of evidence of unexplained sources. Additionally, the Tribunal set aside the CIT(A) order regarding the addition of Rs. 31,62,393/- in Sundry Creditors, emphasizing the need for a fresh decision with reasonable opportunity and cooperation, as the assessment was deemed hasty. Ground Numbers 1, 2, and 3 of the Appeal were addressed accordingly. en-us Mon, 06 Jun 2022 00:00:00 +0530 Thu, 18 Aug 2022 08:17:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426489 The Tribunal partially allowed the Appeal by directing the Assessing Officer to delete the addition of Rs. 1,80,000/- in loan repayments to related persons due to lack of evidence of unexplained sources. Additionally, the Tribunal set aside the CIT(A) order regarding the addition of Rs. 31,62,393/- in Sundry Creditors, emphasizing the need for a fresh decision with reasonable opportunity and cooperation, as the assessment was deemed hasty. Ground Numbers 1, 2, and 3 of the Appeal were addressed accordingly. Case-Laws Income Tax Mon, 06 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426489