https://www.taxtmi.com/caselaws?id=433901 The Tribunal allowed the assessee to demonstrate the availability of opening cash through proper documentation, remanding the matter to the AO for re-examination. The AO was directed to consider the cash flow statement and peak cash balance, granting a reasonable opportunity to the assessee. In a separate issue, the Tribunal set aside the disallowance of exemption claimed for conveyance allowance, instructing the AO to re-evaluate the claim based on additional evidence provided by the assessee. All appeals were disposed of accordingly, with the order pronounced on 09/02/2023. en-us Thu, 09 Feb 2023 00:00:00 +0530 Mon, 13 Feb 2023 09:41:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433901 The Tribunal allowed the assessee to demonstrate the availability of opening cash through proper documentation, remanding the matter to the AO for re-examination. The AO was directed to consider the cash flow statement and peak cash balance, granting a reasonable opportunity to the assessee. In a separate issue, the Tribunal set aside the disallowance of exemption claimed for conveyance allowance, instructing the AO to re-evaluate the claim based on additional evidence provided by the assessee. All appeals were disposed of accordingly, with the order pronounced on 09/02/2023. Case-Laws Income Tax Thu, 09 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433901