https://www.taxtmi.com/caselaws?id=368009 The Tribunal allowed the appeals of the assessee, holding that the additions made by the AO were not based on any incriminating material found during the search and were largely speculative. The Tribunal emphasized the need for concrete evidence to substantiate claims of bogus transactions and disallowed the additions made on the basis of suspicion and conjectures. As a result, both appeals of the assessee were allowed, and the disallowances made by the AO were deleted. en-us Fri, 14 Sep 2018 00:00:00 +0530 Sat, 29 Sep 2018 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368009 The Tribunal allowed the appeals of the assessee, holding that the additions made by the AO were not based on any incriminating material found during the search and were largely speculative. The Tribunal emphasized the need for concrete evidence to substantiate claims of bogus transactions and disallowed the additions made on the basis of suspicion and conjectures. As a result, both appeals of the assessee were allowed, and the disallowances made by the AO were deleted. Case-Laws Income Tax Fri, 14 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368009