https://www.taxtmi.com/caselaws?id=426784 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs.6,67,79,794 in Income Tax Proceedings, citing unexplained bank deposits and estimating a turnover of Rs.77,54,34,044. The Assessing Officer's deletion without reasonable cause and failure to provide the appellant with an opportunity to rebut the Inspector's Report violated natural justice. Despite the Department's argument of denial of opportunity to the Assessing Officer, the Tribunal found the CIT(A)'s decision well-founded and devoid of defects, ultimately dismissing the appeal. en-us Mon, 22 Aug 2022 00:00:00 +0530 Thu, 25 Aug 2022 08:13:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426784 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs.6,67,79,794 in Income Tax Proceedings, citing unexplained bank deposits and estimating a turnover of Rs.77,54,34,044. The Assessing Officer's deletion without reasonable cause and failure to provide the appellant with an opportunity to rebut the Inspector's Report violated natural justice. Despite the Department's argument of denial of opportunity to the Assessing Officer, the Tribunal found the CIT(A)'s decision well-founded and devoid of defects, ultimately dismissing the appeal. Case-Laws Income Tax Mon, 22 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426784