https://www.taxtmi.com/caselaws?id=365290 The High Court upheld the Tribunal's decision to delete additions to the income of the Assessee for the relevant Assessment Year. In the first issue, the Tribunal ruled that unaccounted cash receipts could only be assessed for the previous year and not the subject Assessment Year, emphasizing the need to rely on evidence entirely. The Revenue's argument for taxing the amount in the subject year was dismissed. In the second issue, the Tribunal found no evidence supporting unaccounted cash receipts and rejected the theory of artificially postponing contract completion. The Court affirmed the Tribunal's decision, highlighting the lack of evidence for such receipts. en-us Mon, 06 Aug 2018 00:00:00 +0530 Tue, 14 Aug 2018 13:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365290 The High Court upheld the Tribunal's decision to delete additions to the income of the Assessee for the relevant Assessment Year. In the first issue, the Tribunal ruled that unaccounted cash receipts could only be assessed for the previous year and not the subject Assessment Year, emphasizing the need to rely on evidence entirely. The Revenue's argument for taxing the amount in the subject year was dismissed. In the second issue, the Tribunal found no evidence supporting unaccounted cash receipts and rejected the theory of artificially postponing contract completion. The Court affirmed the Tribunal's decision, highlighting the lack of evidence for such receipts. Case-Laws Income Tax Mon, 06 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365290