https://www.taxtmi.com/caselaws?id=432653 The Tribunal allowed the appeal and deleted the additions made on account of investments in FDR and flat property. It held that once the source of investments was explained during penalty proceedings and accepted by the AO, there was no basis to confirm the additions. The Tribunal emphasized that new arguments introduced by the Department in appellate proceedings, not part of the original case, could not be considered. Therefore, the additions were deleted, and the appeal of the assessee was successful. en-us Wed, 12 Oct 2022 00:00:00 +0530 Wed, 11 Jan 2023 08:43:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432653 The Tribunal allowed the appeal and deleted the additions made on account of investments in FDR and flat property. It held that once the source of investments was explained during penalty proceedings and accepted by the AO, there was no basis to confirm the additions. The Tribunal emphasized that new arguments introduced by the Department in appellate proceedings, not part of the original case, could not be considered. Therefore, the additions were deleted, and the appeal of the assessee was successful. Case-Laws Income Tax Wed, 12 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432653