https://www.taxtmi.com/caselaws?id=470750 Cash deposits and withdrawals in a bank account retained under a dissolved firm's PAN cannot be assessed as unexplained money or unexplained expenditure of that firm where its business, assets and liabilities were taken over by a former partner operating as a proprietorship. The transactions were recorded in the proprietor's cash book, bank book, return and auditor's certificate, while prior departmental records had accepted the dissolution and takeover. Continued use of the former firm's PAN in bank KYC did not establish that the transactions belonged to the dissolved firm; the additions were therefore deleted. en-us Wed, 26 Mar 2025 00:00:00 +0530 Thu, 06 Aug 2026 19:34:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470750 Cash deposits and withdrawals in a bank account retained under a dissolved firm's PAN cannot be assessed as unexplained money or unexplained expenditure of that firm where its business, assets and liabilities were taken over by a former partner operating as a proprietorship. The transactions were recorded in the proprietor's cash book, bank book, return and auditor's certificate, while prior departmental records had accepted the dissolution and takeover. Continued use of the former firm's PAN in bank KYC did not establish that the transactions belonged to the dissolved firm; the additions were therefore deleted. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470750