https://www.taxtmi.com/caselaws?id=353094 The High Court dismissed the revenue's appeal under Section 260A of the Income Tax Act, 1961, regarding additions made by the Assessing Officer during a search assessment. The Court upheld the CIT (A)'s decision to restrict additions related to property investment and capital contributions in benami business units, based on lack of evidence linking the assessee to the transactions. The Court endorsed the CIT (A)'s ruling on payments made through the assessee's wife for property acquisition, citing consistency with previous decisions and factual evidence supporting the additions. The appeal was ultimately dismissed, affirming the lower authorities' findings. en-us Tue, 19 Dec 2017 00:00:00 +0530 Wed, 27 Dec 2017 10:17:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353094 The High Court dismissed the revenue's appeal under Section 260A of the Income Tax Act, 1961, regarding additions made by the Assessing Officer during a search assessment. The Court upheld the CIT (A)'s decision to restrict additions related to property investment and capital contributions in benami business units, based on lack of evidence linking the assessee to the transactions. The Court endorsed the CIT (A)'s ruling on payments made through the assessee's wife for property acquisition, citing consistency with previous decisions and factual evidence supporting the additions. The appeal was ultimately dismissed, affirming the lower authorities' findings. Case-Laws Income Tax Tue, 19 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353094