https://www.taxtmi.com/caselaws?id=277857 The High Court addressed a case where the Assessing Officer added unexplained investments under Section 68 of the Income Tax Act, 1961, following a search at a third party's premises. Despite the AO's reliance on reports, both the CIT(A) and ITAT deleted the additions due to insufficient inquiry. The Court upheld the deletion, stressing the need for thorough investigation beyond initial reports. Emphasizing the AO's failure to conduct necessary enquiries, the Court dismissed the appeal, finding no legal issue and affirming the lower authorities' decisions to delete the additions under Section 68. en-us Mon, 12 Feb 2018 00:00:00 +0530 Thu, 27 Dec 2018 06:29:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277857 The High Court addressed a case where the Assessing Officer added unexplained investments under Section 68 of the Income Tax Act, 1961, following a search at a third party's premises. Despite the AO's reliance on reports, both the CIT(A) and ITAT deleted the additions due to insufficient inquiry. The Court upheld the deletion, stressing the need for thorough investigation beyond initial reports. Emphasizing the AO's failure to conduct necessary enquiries, the Court dismissed the appeal, finding no legal issue and affirming the lower authorities' decisions to delete the additions under Section 68. Case-Laws Income Tax Mon, 12 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277857