https://www.taxtmi.com/caselaws?id=364253 The Tribunal, after considering the retracted statements of the company directors and the lack of conclusive evidence linking the cash transactions to the assessee, deleted the additions made by the Assessing Officer under section 68 of the Income Tax Act for the assessment year 2011-12. The Tribunal emphasized the absence of evidentiary value in statements obtained under section 133A of the Act and raised doubts regarding the title of the property in question and the legitimacy of the cash transactions mentioned in the seized diary. Consequently, the Tax Appeal was dismissed due to the insufficiency of evidence provided by the Revenue. en-us Tue, 12 Jun 2018 00:00:00 +0530 Wed, 25 Jul 2018 07:47:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364253 The Tribunal, after considering the retracted statements of the company directors and the lack of conclusive evidence linking the cash transactions to the assessee, deleted the additions made by the Assessing Officer under section 68 of the Income Tax Act for the assessment year 2011-12. The Tribunal emphasized the absence of evidentiary value in statements obtained under section 133A of the Act and raised doubts regarding the title of the property in question and the legitimacy of the cash transactions mentioned in the seized diary. Consequently, the Tax Appeal was dismissed due to the insufficiency of evidence provided by the Revenue. Case-Laws Income Tax Tue, 12 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364253