https://www.taxtmi.com/caselaws?id=470666 Cash deposits in a savings bank account could not be assessed as unexplained money of a partnership firm that had ceased to exist after conversion into a private limited company before the relevant assessment year. The account stood in another individual's name, unconnected with the firm's business. Recording the firm's PAN by the bank did not establish ownership of the account or transactions, particularly as the PAN linkage resulted from a banking error. The deposits were therefore not attributable to the former firm, and the unexplained-money addition was deleted. en-us Fri, 09 Feb 2024 00:00:00 +0530 Tue, 04 Aug 2026 11:04:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470666 Cash deposits in a savings bank account could not be assessed as unexplained money of a partnership firm that had ceased to exist after conversion into a private limited company before the relevant assessment year. The account stood in another individual's name, unconnected with the firm's business. Recording the firm's PAN by the bank did not establish ownership of the account or transactions, particularly as the PAN linkage resulted from a banking error. The deposits were therefore not attributable to the former firm, and the unexplained-money addition was deleted. Case-Laws Income Tax Fri, 09 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470666