https://www.taxtmi.com/caselaws?id=214435 The Tribunal upheld the initiation of proceedings under Section 158BD of the Income Tax Act, finding the notice was validly issued. However, additions for undisclosed expenditure, suppression of receipts, and illegal payments were deleted due to lack of evidence. The charge of interest under Section 220(2) was dismissed. The appeal by the assessee was partially allowed, while the Revenue's appeal was dismissed. en-us Mon, 31 Oct 2011 00:00:00 +0530 Mon, 02 Jul 2012 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214435 The Tribunal upheld the initiation of proceedings under Section 158BD of the Income Tax Act, finding the notice was validly issued. However, additions for undisclosed expenditure, suppression of receipts, and illegal payments were deleted due to lack of evidence. The charge of interest under Section 220(2) was dismissed. The appeal by the assessee was partially allowed, while the Revenue's appeal was dismissed. Case-Laws Income Tax Mon, 31 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214435