https://www.taxtmi.com/caselaws?id=370608 The Tribunal upheld the decision to delete the protective addition in the hawala transaction case, as the substantive addition made in the hands of the Managing Director had been partially deleted. Consequently, the protective addition in the assessee's hands could not stand alone. The Tribunal affirmed the Commissioner's decision to delete the addition for all assessment years, dismissing the revenue's appeals. This judgment clarified the application of the extrapolation principle and the validity of protective additions in similar cases. en-us Fri, 16 Nov 2018 00:00:00 +0530 Tue, 20 Nov 2018 07:49:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370608 The Tribunal upheld the decision to delete the protective addition in the hawala transaction case, as the substantive addition made in the hands of the Managing Director had been partially deleted. Consequently, the protective addition in the assessee's hands could not stand alone. The Tribunal affirmed the Commissioner's decision to delete the addition for all assessment years, dismissing the revenue's appeals. This judgment clarified the application of the extrapolation principle and the validity of protective additions in similar cases. Case-Laws Income Tax Fri, 16 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370608