https://www.taxtmi.com/caselaws?id=427645 The Tribunal ruled in favor of the assessee, an HUF, in a tax dispute case. The addition of Rs. 1,00,000 as unexplained money under section 69A was deemed unjustified and arbitrary, leading to its deletion. The Tribunal accepted the explanation for the deposit made through old currency during demonetization, based on documentary evidence and past transactions, clarifying the legitimate source of funds. All additions and disallowances were challenged by the assessee, with the Tribunal ruling in favor due to the valid explanation and lack of undisclosed income. The appellant's right to alter, modify, or introduce additional grounds of appeal was upheld to ensure fairness in the legal proceedings. en-us Mon, 12 Sep 2022 00:00:00 +0530 Wed, 14 Sep 2022 09:22:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427645 The Tribunal ruled in favor of the assessee, an HUF, in a tax dispute case. The addition of Rs. 1,00,000 as unexplained money under section 69A was deemed unjustified and arbitrary, leading to its deletion. The Tribunal accepted the explanation for the deposit made through old currency during demonetization, based on documentary evidence and past transactions, clarifying the legitimate source of funds. All additions and disallowances were challenged by the assessee, with the Tribunal ruling in favor due to the valid explanation and lack of undisclosed income. The appellant's right to alter, modify, or introduce additional grounds of appeal was upheld to ensure fairness in the legal proceedings. Case-Laws Income Tax Mon, 12 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427645