https://www.taxtmi.com/caselaws?id=375383 The Tribunal dismissed the assessee's contentions regarding additions based on incriminating material found during the search, confirming the validity of the assessment orders. It deleted substantial additions made by the Assessing Officer for suppression of gross receipts and estimation of profits, citing incorrect figures and unreasonable assumptions. Additionally, it rejected the additions related to undue benefits given to directors, unaccounted transactions with Fortune Group, and unaccounted transactions and expenditures based on seized documents due to lack of corroborative evidence. The Tribunal upheld the eligibility of the assessee for deduction under Section 80IB(10), emphasizing compliance with statutory conditions. en-us Thu, 24 Jan 2019 00:00:00 +0530 Mon, 18 Feb 2019 23:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375383 The Tribunal dismissed the assessee's contentions regarding additions based on incriminating material found during the search, confirming the validity of the assessment orders. It deleted substantial additions made by the Assessing Officer for suppression of gross receipts and estimation of profits, citing incorrect figures and unreasonable assumptions. Additionally, it rejected the additions related to undue benefits given to directors, unaccounted transactions with Fortune Group, and unaccounted transactions and expenditures based on seized documents due to lack of corroborative evidence. The Tribunal upheld the eligibility of the assessee for deduction under Section 80IB(10), emphasizing compliance with statutory conditions. Case-Laws Income Tax Thu, 24 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375383