https://www.taxtmi.com/caselaws?id=238061 The Tribunal allowed the revenue's appeals, highlighting procedural shortcomings of the Assessing Officer and the lack of corroborative evidence during search and seizure operations. The Tribunal rejected the addition based on a valuation report obtained post-search, emphasizing the importance of proper valuation methods. It upheld the CIT (A)'s decision, stressing the need for correct procedures and suitable evidence in determining fair market values. The Tribunal directed the AO to take appropriate action, underscoring adherence to proper procedures and evidentiary support. en-us Thu, 20 Jun 2013 00:00:00 +0530 Tue, 15 Oct 2013 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238061 The Tribunal allowed the revenue's appeals, highlighting procedural shortcomings of the Assessing Officer and the lack of corroborative evidence during search and seizure operations. The Tribunal rejected the addition based on a valuation report obtained post-search, emphasizing the importance of proper valuation methods. It upheld the CIT (A)'s decision, stressing the need for correct procedures and suitable evidence in determining fair market values. The Tribunal directed the AO to take appropriate action, underscoring adherence to proper procedures and evidentiary support. Case-Laws Income Tax Thu, 20 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238061