https://www.taxtmi.com/caselaws?id=430238 The Tribunal found in favor of the appellant in the case concerning the assessment of undisclosed income. The appellant successfully argued that the amount in question was sourced from past savings and contributions from family members, rather than undisclosed income. The Tribunal held that the lower authorities did not properly exercise discretion under section 69 and that the appellant's explanations were satisfactory. As a result, the addition of Rs. 4,93,984 as undisclosed income was deleted, and the appeal was allowed. en-us Mon, 26 Sep 2022 00:00:00 +0530 Tue, 15 Nov 2022 09:17:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430238 The Tribunal found in favor of the appellant in the case concerning the assessment of undisclosed income. The appellant successfully argued that the amount in question was sourced from past savings and contributions from family members, rather than undisclosed income. The Tribunal held that the lower authorities did not properly exercise discretion under section 69 and that the appellant's explanations were satisfactory. As a result, the addition of Rs. 4,93,984 as undisclosed income was deleted, and the appeal was allowed. Case-Laws Income Tax Mon, 26 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430238