https://www.taxtmi.com/caselaws?id=179432 The Tribunal upheld the deletion of an addition to an individual's income for A.Y. 2004-05, challenging the undisclosed income assessment by the A.O. The sum received by the assessee was held to have legal consideration, preventing taxation under section 56(2)(v) of the Income Tax Act. The Tribunal found no grounds to overturn the Commissioner's decision, dismissing the Revenue's appeal and affirming the deletion of the addition. en-us Wed, 17 Oct 2012 00:00:00 +0530 Tue, 01 Mar 2016 16:54:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179432 The Tribunal upheld the deletion of an addition to an individual's income for A.Y. 2004-05, challenging the undisclosed income assessment by the A.O. The sum received by the assessee was held to have legal consideration, preventing taxation under section 56(2)(v) of the Income Tax Act. The Tribunal found no grounds to overturn the Commissioner's decision, dismissing the Revenue's appeal and affirming the deletion of the addition. Case-Laws Income Tax Wed, 17 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179432