https://www.taxtmi.com/caselaws?id=177679 The Tribunal upheld the validity of the assessment under Section 153C, finding that the AO had jurisdiction over the assessee company within the Piyush Group. However, it ruled against the addition of Rs. 12.50 crores for alleged cash payment in a property transaction, citing unreliable evidence from an anonymous fax and lack of opportunity for cross-examination. The Tribunal emphasized the importance of fair proceedings and directed the AO to delete the disputed addition, partially allowing the appeal. en-us Thu, 25 Oct 2012 00:00:00 +0530 Thu, 25 Jan 2018 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177679 The Tribunal upheld the validity of the assessment under Section 153C, finding that the AO had jurisdiction over the assessee company within the Piyush Group. However, it ruled against the addition of Rs. 12.50 crores for alleged cash payment in a property transaction, citing unreliable evidence from an anonymous fax and lack of opportunity for cross-examination. The Tribunal emphasized the importance of fair proceedings and directed the AO to delete the disputed addition, partially allowing the appeal. Case-Laws Income Tax Thu, 25 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177679