https://www.taxtmi.com/caselaws?id=180416 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, overturning the CIT(A)'s decision to add Rs. 1.5 crores to the income. ITAT found the addition baseless and unsupported by evidence, emphasizing the lack of material to justify it. The tribunal highlighted the importance of concrete evidence before making income additions and referenced legal precedents to support its decision. The ITAT concluded that the addition was made on suspicion and surmises, ultimately deleting it. en-us Fri, 30 Mar 2012 00:00:00 +0530 Tue, 04 Jul 2017 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180416 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, overturning the CIT(A)'s decision to add Rs. 1.5 crores to the income. ITAT found the addition baseless and unsupported by evidence, emphasizing the lack of material to justify it. The tribunal highlighted the importance of concrete evidence before making income additions and referenced legal precedents to support its decision. The ITAT concluded that the addition was made on suspicion and surmises, ultimately deleting it. Case-Laws Income Tax Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180416