https://www.taxtmi.com/caselaws?id=235529 The Tribunal upheld the deletion of the addition on account of estimated on-money, emphasizing that assessments post-search should rely on evidence, not estimates. The Tribunal found the AO's estimation lacked material support and highlighted the varying rates in real estate transactions. The Tribunal dismissed the Revenue's appeal and remanded the issue of alleged inflation of expenses for further verification, stressing the importance of basing assessments on concrete evidence rather than presumption. en-us Wed, 10 Jul 2013 00:00:00 +0530 Fri, 26 Jul 2013 13:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235529 The Tribunal upheld the deletion of the addition on account of estimated on-money, emphasizing that assessments post-search should rely on evidence, not estimates. The Tribunal found the AO's estimation lacked material support and highlighted the varying rates in real estate transactions. The Tribunal dismissed the Revenue's appeal and remanded the issue of alleged inflation of expenses for further verification, stressing the importance of basing assessments on concrete evidence rather than presumption. Case-Laws Income Tax Wed, 10 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235529