https://www.taxtmi.com/caselaws?id=341080 The Tribunal concluded that the addition of Rs. 13,63,080/- as undisclosed income was not justified and deleted the addition. The reassessment under Section 147 was found to be invalid due to reliance on borrowed information without independent verification. The Tribunal upheld the principle of consistency and found that the AO failed to consider the deletion of similar additions in the previous year. The reliance on uncorroborated and unsigned documents, as well as inconsistent statements from the directors, was deemed insufficient to substantiate the addition. The appeal of the assessee was allowed, and the orders of the authorities below were cancelled. en-us Tue, 28 Mar 2017 00:00:00 +0530 Sat, 01 Apr 2017 09:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341080 The Tribunal concluded that the addition of Rs. 13,63,080/- as undisclosed income was not justified and deleted the addition. The reassessment under Section 147 was found to be invalid due to reliance on borrowed information without independent verification. The Tribunal upheld the principle of consistency and found that the AO failed to consider the deletion of similar additions in the previous year. The reliance on uncorroborated and unsigned documents, as well as inconsistent statements from the directors, was deemed insufficient to substantiate the addition. The appeal of the assessee was allowed, and the orders of the authorities below were cancelled. Case-Laws Income Tax Tue, 28 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341080