https://www.taxtmi.com/caselaws?id=308831 The Tribunal ruled in favor of the assessee, directing the deletion of the addition of Rs.564,500. It found that the Assessing Officer did not provide a reasonable opportunity for explanation, and the addition of cash deposits was sustained arbitrarily without considering the availability of funds demonstrated in the cash flow statement. The Tribunal concluded that the authorities' proceedings were unjustified, leading to the deletion of the addition and allowing the appeal. en-us Thu, 23 Feb 2023 00:00:00 +0530 Wed, 26 Jul 2023 08:17:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308831 The Tribunal ruled in favor of the assessee, directing the deletion of the addition of Rs.564,500. It found that the Assessing Officer did not provide a reasonable opportunity for explanation, and the addition of cash deposits was sustained arbitrarily without considering the availability of funds demonstrated in the cash flow statement. The Tribunal concluded that the authorities' proceedings were unjustified, leading to the deletion of the addition and allowing the appeal. Case-Laws Income Tax Thu, 23 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308831