https://www.taxtmi.com/caselaws?id=254898 The Tribunal ruled in favor of the assessee, holding that the Assessing Officer lacked jurisdiction to make additions under Section 153A due to the absence of incriminating material and expired time limits. The Tribunal accepted the authenticity of a loan received from an NRI, deleting the addition of Rs. 97,00,000. Additionally, the Tribunal reduced the additions for foreign travel and credit card expenses, finding insufficient evidence to support the Assessing Officer's estimations. The penalty under Section 271(1)(c) was also deleted. Overall, the Tribunal partially allowed the assessee's appeals, emphasizing the lack of incriminating material and evidence. en-us Fri, 19 Dec 2014 00:00:00 +0530 Fri, 02 Jan 2015 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254898 The Tribunal ruled in favor of the assessee, holding that the Assessing Officer lacked jurisdiction to make additions under Section 153A due to the absence of incriminating material and expired time limits. The Tribunal accepted the authenticity of a loan received from an NRI, deleting the addition of Rs. 97,00,000. Additionally, the Tribunal reduced the additions for foreign travel and credit card expenses, finding insufficient evidence to support the Assessing Officer's estimations. The penalty under Section 271(1)(c) was also deleted. Overall, the Tribunal partially allowed the assessee's appeals, emphasizing the lack of incriminating material and evidence. Case-Laws Income Tax Fri, 19 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254898