https://www.taxtmi.com/caselaws?id=194696 The Tribunal allowed the appeal of the assessee for statistical purposes, directing the issue of addition of interest received from M/s. Essar Oil Ltd. to be reconsidered by the Assessing Officer with the requirement of confirmation from Allied Digital Services Ltd. regarding the AIR information. The Tribunal emphasized that additions solely based on AIR information without corroborative evidence are legally unsustainable, shifting the burden of proof to the AO to establish income receipt when the assessee denies it. Both parties agreed to restore the issue to the AO for fresh consideration in accordance with the law. en-us Fri, 10 Apr 2015 00:00:00 +0530 Wed, 20 Sep 2017 07:34:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194696 The Tribunal allowed the appeal of the assessee for statistical purposes, directing the issue of addition of interest received from M/s. Essar Oil Ltd. to be reconsidered by the Assessing Officer with the requirement of confirmation from Allied Digital Services Ltd. regarding the AIR information. The Tribunal emphasized that additions solely based on AIR information without corroborative evidence are legally unsustainable, shifting the burden of proof to the AO to establish income receipt when the assessee denies it. Both parties agreed to restore the issue to the AO for fresh consideration in accordance with the law. Case-Laws Income Tax Fri, 10 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194696