https://www.taxtmi.com/caselaws?id=351858 The Tribunal upheld the decision to delete protective additions made by the Assessing Officer, dismissing both the Revenue's appeal and the Assessee's cross objections. It found that the Assessing Officer lacked jurisdiction in certain aspects and failed to provide substantial evidence to justify the additions in the Assessee's hands. The Tribunal concluded that the Assessee did not derive any benefit from the overseas companies, making taxability under Indian laws irrelevant. Consequently, all appeals and cross objections were rejected, safeguarding the Assessee's interests across multiple assessment years. en-us Fri, 01 Dec 2017 00:00:00 +0530 Sun, 03 Dec 2017 08:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351858 The Tribunal upheld the decision to delete protective additions made by the Assessing Officer, dismissing both the Revenue's appeal and the Assessee's cross objections. It found that the Assessing Officer lacked jurisdiction in certain aspects and failed to provide substantial evidence to justify the additions in the Assessee's hands. The Tribunal concluded that the Assessee did not derive any benefit from the overseas companies, making taxability under Indian laws irrelevant. Consequently, all appeals and cross objections were rejected, safeguarding the Assessee's interests across multiple assessment years. Case-Laws Income Tax Fri, 01 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351858