https://www.taxtmi.com/caselaws?id=331080 The Tribunal upheld the CIT(A)'s decision to delete an addition of Rs. 1,00,00,000 made under section 132(4) of the Income Tax Act, 1961. The CIT(A) found that the addition lacked proper documentary evidence, the surrender was not disclosed in the return of income, and no tax was paid on it. The Tribunal agreed that there was no correlation between seized documents and the surrendered amount, no incriminating material was found post-search, and the surrender was based on mistaken facts. The Tribunal dismissed the Revenue's appeal, citing lack of evidence and supporting the CIT(A)'s detailed analysis and precedent in related cases. en-us Mon, 01 Aug 2016 00:00:00 +0530 Fri, 12 Aug 2016 13:20:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331080 The Tribunal upheld the CIT(A)'s decision to delete an addition of Rs. 1,00,00,000 made under section 132(4) of the Income Tax Act, 1961. The CIT(A) found that the addition lacked proper documentary evidence, the surrender was not disclosed in the return of income, and no tax was paid on it. The Tribunal agreed that there was no correlation between seized documents and the surrendered amount, no incriminating material was found post-search, and the surrender was based on mistaken facts. The Tribunal dismissed the Revenue's appeal, citing lack of evidence and supporting the CIT(A)'s detailed analysis and precedent in related cases. Case-Laws Income Tax Mon, 01 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331080