https://www.taxtmi.com/caselaws?id=68244 The Tribunal dismissed the appeals, affirming the CIT(A)'s decisions to delete the additions. For the first issue, the Tribunal upheld the deletion of the Rs. 1,00,000 addition, agreeing with the CIT(A) that the statement made during the survey lacked credibility and was retracted. For the second issue, the Tribunal agreed that the AO's additions under various heads were not justified as they were unconnected to the reasons for reopening, citing the amendment in s. 147 and relevant judgments. The Tribunal's decisions were guided by the retraction of statements and the lack of connection between the additions and reopening reasons. en-us Thu, 25 Jan 2007 00:00:00 +0530 Tue, 06 Feb 2024 15:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68244 The Tribunal dismissed the appeals, affirming the CIT(A)'s decisions to delete the additions. For the first issue, the Tribunal upheld the deletion of the Rs. 1,00,000 addition, agreeing with the CIT(A) that the statement made during the survey lacked credibility and was retracted. For the second issue, the Tribunal agreed that the AO's additions under various heads were not justified as they were unconnected to the reasons for reopening, citing the amendment in s. 147 and relevant judgments. The Tribunal's decisions were guided by the retraction of statements and the lack of connection between the additions and reopening reasons. Case-Laws Income Tax Thu, 25 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68244