https://www.taxtmi.com/caselaws?id=429990 The Tribunal directed the Assessing Officer to delete the addition of Rs.2,57,370 as unexplained income, allowing the assessee's appeal. The Tribunal found that the transactions were intra-day trades resulting in a profit of Rs.1,655, and that the AO and NFAC/CIT(A) did not properly consider the evidence presented. The issue of the validity of the notice under Section 148 became academic as the appeal was decided on merits. The Tribunal also noted that a cash deposit of Rs.67,500 did not impact the decision on the main issues. en-us Tue, 18 Oct 2022 00:00:00 +0530 Wed, 09 Nov 2022 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429990 The Tribunal directed the Assessing Officer to delete the addition of Rs.2,57,370 as unexplained income, allowing the assessee's appeal. The Tribunal found that the transactions were intra-day trades resulting in a profit of Rs.1,655, and that the AO and NFAC/CIT(A) did not properly consider the evidence presented. The issue of the validity of the notice under Section 148 became academic as the appeal was decided on merits. The Tribunal also noted that a cash deposit of Rs.67,500 did not impact the decision on the main issues. Case-Laws Income Tax Tue, 18 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429990