https://www.taxtmi.com/caselaws?id=278230 The Tribunal allowed the assessee's appeals, deleting the additions made by the Assessing Officer. The Tribunal emphasized the lack of incriminating evidence and upheld the precedence of documentary evidence over oral statements. The penalty imposed under Section 271(1)(c) was also deleted, as it was based solely on a statement without corroborative evidence. The Tribunal's decision highlighted the importance of legal proof and dismissed the Revenue's appeals, affirming the deletion of the penalty. en-us Tue, 03 Oct 2017 00:00:00 +0530 Sat, 19 Jan 2019 07:41:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278230 The Tribunal allowed the assessee's appeals, deleting the additions made by the Assessing Officer. The Tribunal emphasized the lack of incriminating evidence and upheld the precedence of documentary evidence over oral statements. The penalty imposed under Section 271(1)(c) was also deleted, as it was based solely on a statement without corroborative evidence. The Tribunal's decision highlighted the importance of legal proof and dismissed the Revenue's appeals, affirming the deletion of the penalty. Case-Laws Income Tax Tue, 03 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278230