https://www.taxtmi.com/caselaws?id=256620 The tribunal ruled in favor of the appellant, quashing the assessment initiated under section 153C of the Income Tax Act. It emphasized the need for prima facie unrecorded transactions to invoke section 153C, highlighting the absence of incriminating evidence in the seized documents. The tribunal also overturned the disallowance of advertisement expenses, finding the appellant's expenditures legitimate and not prejudicial to revenue interests. Ultimately, the tribunal directed the deletion of the disallowance due to the lack of substantiated evidence and incorrect assumptions by the assessing officer. en-us Fri, 03 Jan 2014 00:00:00 +0530 Tue, 17 Feb 2015 22:51:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256620 The tribunal ruled in favor of the appellant, quashing the assessment initiated under section 153C of the Income Tax Act. It emphasized the need for prima facie unrecorded transactions to invoke section 153C, highlighting the absence of incriminating evidence in the seized documents. The tribunal also overturned the disallowance of advertisement expenses, finding the appellant's expenditures legitimate and not prejudicial to revenue interests. Ultimately, the tribunal directed the deletion of the disallowance due to the lack of substantiated evidence and incorrect assumptions by the assessing officer. Case-Laws Income Tax Fri, 03 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256620