https://www.taxtmi.com/caselaws?id=768804 The Income Tax Tribunal partially ruled in favor of the assessee. It deleted the Rs.5,50,000/- unaccounted income addition and reduced the income estimation from 8% to 5% of total turnover. The Tribunal emphasized that lack of specific documentation does not automatically render cash deposits unexplained if overall financial records support the declared turnover. The interest charge under Section 234A remained largely unaddressed. en-us Tue, 31 Dec 2024 00:00:00 +0530 Sat, 12 Apr 2025 13:17:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768804 The Income Tax Tribunal partially ruled in favor of the assessee. It deleted the Rs.5,50,000/- unaccounted income addition and reduced the income estimation from 8% to 5% of total turnover. The Tribunal emphasized that lack of specific documentation does not automatically render cash deposits unexplained if overall financial records support the declared turnover. The interest charge under Section 234A remained largely unaddressed. Case-Laws Income Tax Tue, 31 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768804