https://www.taxtmi.com/caselaws?id=467190 Whether additions under unexplained cash provisions and tax at a specified rate were sustainable where reassessment was completed under procedural sections without adequate inquiry and after rejecting supplementary evidence; the Tribunal found third party corroboration (bank statements, Form 26AS, accounts) filed before the Tribunal but not before revenue, and held that treating entire deposits as unexplained income without verifying payors was excessive. Outcome: additions set aside in part and the matter remanded to the Assessing Officer for de novo assessment, verification of evidence and an opportunity for the assessee to be heard. en-us Fri, 10 Jan 2025 00:00:00 +0530 Tue, 10 Mar 2026 08:51:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467190 Whether additions under unexplained cash provisions and tax at a specified rate were sustainable where reassessment was completed under procedural sections without adequate inquiry and after rejecting supplementary evidence; the Tribunal found third party corroboration (bank statements, Form 26AS, accounts) filed before the Tribunal but not before revenue, and held that treating entire deposits as unexplained income without verifying payors was excessive. Outcome: additions set aside in part and the matter remanded to the Assessing Officer for de novo assessment, verification of evidence and an opportunity for the assessee to be heard. Case-Laws Income Tax Fri, 10 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467190