https://www.taxtmi.com/caselaws?id=57772 The Tribunal allowed the appeal, excluding Rs. 1 lakh withdrawn from a partnership firm from the unaccounted income declared by the assessee. The Tribunal found the explanation provided by the assessee to be factually correct and supported by records, emphasizing that the Revenue cannot reject a verified explanation based on mere suspicion. The Tribunal disagreed with the lower authorities' findings and ruled in favor of the assessee in all three issues raised in the case. en-us Tue, 20 Nov 2001 00:00:00 +0530 Mon, 13 Dec 2010 13:30:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57772 The Tribunal allowed the appeal, excluding Rs. 1 lakh withdrawn from a partnership firm from the unaccounted income declared by the assessee. The Tribunal found the explanation provided by the assessee to be factually correct and supported by records, emphasizing that the Revenue cannot reject a verified explanation based on mere suspicion. The Tribunal disagreed with the lower authorities' findings and ruled in favor of the assessee in all three issues raised in the case. Case-Laws Income Tax Tue, 20 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57772