https://www.taxtmi.com/caselaws?id=367289 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 10 crores, finding it arbitrary and unsupported by evidence. The unauthorized statement used as justification was deemed invalid, lacking legal authority. No corroborative evidence was presented, contrary to CBDT guidelines. The Revenue's appeal was dismissed due to lack of merit, emphasizing the unauthorized nature of the statement and absence of supporting evidence. Penalty proceedings were deemed premature. The order was pronounced on 14.09.2018. en-us Fri, 14 Sep 2018 00:00:00 +0530 Tue, 18 Sep 2018 08:03:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367289 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 10 crores, finding it arbitrary and unsupported by evidence. The unauthorized statement used as justification was deemed invalid, lacking legal authority. No corroborative evidence was presented, contrary to CBDT guidelines. The Revenue's appeal was dismissed due to lack of merit, emphasizing the unauthorized nature of the statement and absence of supporting evidence. Penalty proceedings were deemed premature. The order was pronounced on 14.09.2018. Case-Laws Income Tax Fri, 14 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367289