https://www.taxtmi.com/caselaws?id=158669 The Tribunal was correct in deleting the addition made by the assessing officer on the income of the three flat complexes promoted by the assessee. Both the Commissioner of Income Tax (Appeals) and the Appellate Tribunal upheld the assessee's position, emphasizing the lack of concrete evidence to support the additions. They found that the projects were not comparable to those of another promoter, highlighting the importance of relying on proven facts rather than presumptions. The Tribunal's decision to delete the additions was deemed valid and in accordance with the law, resulting in the dismissal of the appeal. en-us Wed, 11 Jun 2008 00:00:00 +0530 Sat, 06 Dec 2014 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158669 The Tribunal was correct in deleting the addition made by the assessing officer on the income of the three flat complexes promoted by the assessee. Both the Commissioner of Income Tax (Appeals) and the Appellate Tribunal upheld the assessee's position, emphasizing the lack of concrete evidence to support the additions. They found that the projects were not comparable to those of another promoter, highlighting the importance of relying on proven facts rather than presumptions. The Tribunal's decision to delete the additions was deemed valid and in accordance with the law, resulting in the dismissal of the appeal. Case-Laws Income Tax Wed, 11 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158669