https://www.taxtmi.com/caselaws?id=470667 Addition for unexplained money could not be sustained against a partnership firm after its conversion into a private limited company. The bank transactions relied on were in an account not belonging to the firm, and the firm had ceased to exist upon conversion. Use of the firm's PAN in an individual's savings account was treated as a banking error. As no change in facts or law and no contrary material were identified, the earlier finding was followed, resulting in deletion of the addition. en-us Mon, 01 Apr 2024 00:00:00 +0530 Tue, 04 Aug 2026 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470667 Addition for unexplained money could not be sustained against a partnership firm after its conversion into a private limited company. The bank transactions relied on were in an account not belonging to the firm, and the firm had ceased to exist upon conversion. Use of the firm's PAN in an individual's savings account was treated as a banking error. As no change in facts or law and no contrary material were identified, the earlier finding was followed, resulting in deletion of the addition. Case-Laws Income Tax Mon, 01 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470667