https://www.taxtmi.com/caselaws?id=275426 The High Court upheld the Income Tax Appellate Tribunal's decision to confirm the addition of only 6.25% of the total profit amount attributable to the assessee and delete the balance amount. The Tribunal's ruling was based on the Assessing Officer's failure to properly examine the facts and lack of evidence supporting the company's ownership of the balance amount. The High Court found no error in the Tribunal's decision, leading to the dismissal of the Tax Appeal and allowing further appeals on remaining additions in the company's hands. en-us Mon, 18 Mar 2013 00:00:00 +0530 Wed, 03 Oct 2018 12:51:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275426 The High Court upheld the Income Tax Appellate Tribunal's decision to confirm the addition of only 6.25% of the total profit amount attributable to the assessee and delete the balance amount. The Tribunal's ruling was based on the Assessing Officer's failure to properly examine the facts and lack of evidence supporting the company's ownership of the balance amount. The High Court found no error in the Tribunal's decision, leading to the dismissal of the Tax Appeal and allowing further appeals on remaining additions in the company's hands. Case-Laws Income Tax Mon, 18 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275426