https://www.taxtmi.com/caselaws?id=361719 The Tribunal upheld the CIT(Appeals) decision, dismissing the Revenue's appeals and the assessees' cross-objections. The addition of Rs. 5 Crores for the construction of "Hotel Apple Tree" was deemed unjustified due to lack of concrete evidence beyond a disputed statement recorded during a survey. The judgment emphasized the necessity of valid evidence in tax assessments and adherence to procedural requirements during surveys for fair treatment of taxpayers. en-us Fri, 08 Jun 2018 00:00:00 +0530 Tue, 12 Jun 2018 16:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361719 The Tribunal upheld the CIT(Appeals) decision, dismissing the Revenue's appeals and the assessees' cross-objections. The addition of Rs. 5 Crores for the construction of "Hotel Apple Tree" was deemed unjustified due to lack of concrete evidence beyond a disputed statement recorded during a survey. The judgment emphasized the necessity of valid evidence in tax assessments and adherence to procedural requirements during surveys for fair treatment of taxpayers. Case-Laws Income Tax Fri, 08 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361719