https://www.taxtmi.com/caselaws?id=176347 The Tribunal upheld the CIT(A)'s order, ruling in favor of the assessee. The deletion of the addition of Rs. 1,35,00,000, comprising unaccounted profit and investment, was upheld due to lack of corroborative evidence linking the assessee to incriminating material found at a third party's premises. The Tribunal emphasized the necessity of corroborative evidence and the inadmissibility of third-party statements without proper cross-examination. The Revenue's appeal was dismissed, and the CIT(A)'s decision was affirmed, with the Tribunal finding no evidence of unrecorded transactions during the search operations. en-us Fri, 05 Apr 2013 00:00:00 +0530 Wed, 24 May 2017 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176347 The Tribunal upheld the CIT(A)'s order, ruling in favor of the assessee. The deletion of the addition of Rs. 1,35,00,000, comprising unaccounted profit and investment, was upheld due to lack of corroborative evidence linking the assessee to incriminating material found at a third party's premises. The Tribunal emphasized the necessity of corroborative evidence and the inadmissibility of third-party statements without proper cross-examination. The Revenue's appeal was dismissed, and the CIT(A)'s decision was affirmed, with the Tribunal finding no evidence of unrecorded transactions during the search operations. Case-Laws Income Tax Fri, 05 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176347