https://www.taxtmi.com/caselaws?id=438367 The tribunal partially allowed the appeal, finding in favor of the assessee on the issues of cash deposits and withdrawals. The additions made under section 69A of the Act were deleted as the explanations provided by the assessee were deemed credible and supported by evidence. The tribunal concluded that no additions were warranted in the hands of the assessee, leading to the imposition of penalties being deemed inconsequential and not surviving due to the substantive grounds. en-us Mon, 22 May 2023 00:00:00 +0530 Tue, 30 May 2023 09:00:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438367 The tribunal partially allowed the appeal, finding in favor of the assessee on the issues of cash deposits and withdrawals. The additions made under section 69A of the Act were deleted as the explanations provided by the assessee were deemed credible and supported by evidence. The tribunal concluded that no additions were warranted in the hands of the assessee, leading to the imposition of penalties being deemed inconsequential and not surviving due to the substantive grounds. Case-Laws Income Tax Mon, 22 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438367