https://www.taxtmi.com/caselaws?id=437501 The Tribunal partly allowed the appeal, overturning the addition of Rs. 9,35,200 as unexplained cash credit for brokerage income due to lack of incriminating material and citing consistency with prior decisions. The addition of Rs. 48,00,000 based on presumptions of undisclosed income was sent back to the Assessing Officer for further review, emphasizing the need for tangible evidence and adherence to principles of natural justice. The Tribunal directed the AO to allow the assessee an opportunity to explain and provide evidence, ensuring a fair process. en-us Fri, 30 Dec 2022 00:00:00 +0530 Sat, 06 May 2023 13:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437501 The Tribunal partly allowed the appeal, overturning the addition of Rs. 9,35,200 as unexplained cash credit for brokerage income due to lack of incriminating material and citing consistency with prior decisions. The addition of Rs. 48,00,000 based on presumptions of undisclosed income was sent back to the Assessing Officer for further review, emphasizing the need for tangible evidence and adherence to principles of natural justice. The Tribunal directed the AO to allow the assessee an opportunity to explain and provide evidence, ensuring a fair process. Case-Laws Income Tax Fri, 30 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437501