Tribunal Rules in Favor of Assessee: Deletes Addition Due to Lack of Proof on Source of Cash Deposits in Bank Account.

Tribunal Rules in Favor of Assessee: Deletes Addition Due to Lack of Proof on Source of Cash Deposits in Bank Account. https://www.taxtmi.com/highlights?id=75143 Unexplained money - proof of source cash deposited in bank account - proof of cash on hand - the Tribunal noted a lack of clear reasoning in rejecting the assessee's claim, especially regarding the business transactions in cash. Consequently, the Tribunal deleted the impugned addition. en-us Fri, 23 Feb 2024 08:23:57 +0530 Fri, 23 Feb 2024 08:23:57 +0530 TaxTMI RSS Generator Tribunal Rules in Favor of Assessee: Deletes Addition Due to Lack of Proof on Source of Cash Deposits in Bank Account. https://www.taxtmi.com/highlights?id=75143 Unexplained money - proof of source cash deposited in bank account - proof of cash on hand - the Tribunal noted a lack of clear reasoning in rejecting the assessee's claim, especially regarding the business transactions in cash. Consequently, the Tribunal deleted the impugned addition. Highlights Income Tax Fri, 23 Feb 2024 08:23:57 +0530 https://www.taxtmi.com/highlights?id=75143