https://www.taxtmi.com/caselaws?id=261206 The appeal of the Revenue was dismissed, and the Cross-objection of the assessee was also dismissed. The first appellate authority's decision to delete the additions made by the AO was upheld, as the Revenue could not provide sufficient evidence to support the additions. The judgment emphasized that the transactions related to the takeover of GB Educational Society did not materialize, and the amounts were returned to the assessee, thus negating the need for any additions to the assessee's income. en-us Mon, 29 Jun 2015 00:00:00 +0530 Mon, 06 Jul 2015 06:41:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261206 The appeal of the Revenue was dismissed, and the Cross-objection of the assessee was also dismissed. The first appellate authority's decision to delete the additions made by the AO was upheld, as the Revenue could not provide sufficient evidence to support the additions. The judgment emphasized that the transactions related to the takeover of GB Educational Society did not materialize, and the amounts were returned to the assessee, thus negating the need for any additions to the assessee's income. Case-Laws Income Tax Mon, 29 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261206