https://www.taxtmi.com/caselaws?id=427339 The Tribunal overturned the CIT(A)'s decision and ruled in favor of the appellant, deleting the addition of Rs. 3,00,000. The Tribunal found that the Assessing Officer's addition was unjustified as the cash deposits had a legitimate source from savings and opening cash in hand, emphasizing the importance of substantiated reasoning in tax assessments and rejecting arbitrary decisions based on assumptions. en-us Tue, 26 Jul 2022 00:00:00 +0530 Tue, 06 Sep 2022 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427339 The Tribunal overturned the CIT(A)'s decision and ruled in favor of the appellant, deleting the addition of Rs. 3,00,000. The Tribunal found that the Assessing Officer's addition was unjustified as the cash deposits had a legitimate source from savings and opening cash in hand, emphasizing the importance of substantiated reasoning in tax assessments and rejecting arbitrary decisions based on assumptions. Case-Laws Income Tax Tue, 26 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427339