https://www.taxtmi.com/caselaws?id=329713 The Tribunal allowed the appeal, directing the AO to delete all additions as they lacked incriminating material from the search. The Tribunal emphasized the limited scope of assessment under Section 158BD and the necessity for supporting evidence. It found no evidence of benami transactions and investments by the assessee's wife and others, directing the AO to remove these additions. The Tribunal ruled in favor of the assessee, highlighting the importance of evidence in making assessments and the need for additions to be based on seized material. en-us Fri, 13 May 2016 00:00:00 +0530 Fri, 08 Jul 2016 12:57:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329713 The Tribunal allowed the appeal, directing the AO to delete all additions as they lacked incriminating material from the search. The Tribunal emphasized the limited scope of assessment under Section 158BD and the necessity for supporting evidence. It found no evidence of benami transactions and investments by the assessee's wife and others, directing the AO to remove these additions. The Tribunal ruled in favor of the assessee, highlighting the importance of evidence in making assessments and the need for additions to be based on seized material. Case-Laws Income Tax Fri, 13 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329713