https://www.taxtmi.com/caselaws?id=263561 The High Court of Calcutta dismissed the Revenue's appeal, upholding the deletion of additions of undisclosed income and capital gains. The court emphasized the necessity of corroborative evidence and proper computation under the Income-tax Act. It ruled in favor of the assessee, stating that the additions lacked evidentiary support and were made on conjecture and surmise, based solely on statements without corroborative material. The court highlighted the importance of adhering to the provisions of the Act and ruled in favor of the assessee on both issues raised in the appeal. en-us Thu, 13 Aug 2015 00:00:00 +0530 Sat, 05 Sep 2015 11:08:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263561 The High Court of Calcutta dismissed the Revenue's appeal, upholding the deletion of additions of undisclosed income and capital gains. The court emphasized the necessity of corroborative evidence and proper computation under the Income-tax Act. It ruled in favor of the assessee, stating that the additions lacked evidentiary support and were made on conjecture and surmise, based solely on statements without corroborative material. The court highlighted the importance of adhering to the provisions of the Act and ruled in favor of the assessee on both issues raised in the appeal. Case-Laws Income Tax Thu, 13 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263561