https://www.taxtmi.com/caselaws?id=175701 The Court upheld the Tribunal's decision to delete additions made by the AO based on incriminating documents seized during search operations. The Court found that the AO's conclusions lacked proper evidence and were based on surmises and conjectures. The Court also held that the burden of proof regarding the amounts shown in hundies/promissory notes lay with the AO, and the assessee had successfully rebutted the allegations. Consequently, the appeals were dismissed, affirming the decisions of the CIT(A) and Tribunal, with no substantial question of law arising in the case. en-us Mon, 17 Oct 2011 00:00:00 +0530 Mon, 18 Sep 2017 09:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175701 The Court upheld the Tribunal's decision to delete additions made by the AO based on incriminating documents seized during search operations. The Court found that the AO's conclusions lacked proper evidence and were based on surmises and conjectures. The Court also held that the burden of proof regarding the amounts shown in hundies/promissory notes lay with the AO, and the assessee had successfully rebutted the allegations. Consequently, the appeals were dismissed, affirming the decisions of the CIT(A) and Tribunal, with no substantial question of law arising in the case. Case-Laws Income Tax Mon, 17 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175701