https://www.taxtmi.com/caselaws?id=240466 The tribunal upheld the CIT(A)'s decision to delete additions made by the Assessing Officer (AO) on various grounds, including unexplained share capital/share application money and unsecured loans received from directors. The tribunal emphasized the lack of incriminating material found during the search and the importance of conducting proper inquiries before making additions. The tribunal dismissed the revenue's appeals and the assessee's cross-objections, referencing judicial precedents supporting the assessee's position. The decision was pronounced on October 1, 2013. en-us Tue, 01 Oct 2013 00:00:00 +0530 Thu, 05 Dec 2013 07:57:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240466 The tribunal upheld the CIT(A)'s decision to delete additions made by the Assessing Officer (AO) on various grounds, including unexplained share capital/share application money and unsecured loans received from directors. The tribunal emphasized the lack of incriminating material found during the search and the importance of conducting proper inquiries before making additions. The tribunal dismissed the revenue's appeals and the assessee's cross-objections, referencing judicial precedents supporting the assessee's position. The decision was pronounced on October 1, 2013. Case-Laws Income Tax Tue, 01 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240466