https://www.taxtmi.com/caselaws?id=367065 The High Court ruled against the Revenue in a case involving the interpretation of section 145 of the IT Act. The Assessing Officer's additions, based on materials from the Excise Department without concrete evidence of tax evasion, were deemed unjustified. The Court emphasized the necessity of verified evidence before making such additions and dismissed the appeals, highlighting the lack of independent material to support the Assessing Officer's actions. Similarly, additions based on suppressed sales were deleted as the Assessing Officer lacked a sufficient basis for the adjustments, leading to a ruling in favor of the respondent. en-us Mon, 10 Sep 2018 00:00:00 +0530 Fri, 14 Sep 2018 07:48:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367065 The High Court ruled against the Revenue in a case involving the interpretation of section 145 of the IT Act. The Assessing Officer's additions, based on materials from the Excise Department without concrete evidence of tax evasion, were deemed unjustified. The Court emphasized the necessity of verified evidence before making such additions and dismissed the appeals, highlighting the lack of independent material to support the Assessing Officer's actions. Similarly, additions based on suppressed sales were deleted as the Assessing Officer lacked a sufficient basis for the adjustments, leading to a ruling in favor of the respondent. Case-Laws Income Tax Mon, 10 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367065