https://www.taxtmi.com/caselaws?id=378776 The Tribunal dismissed the Revenue's appeals for both assessment years and allowed the assessee's cross-objections. It emphasized the lack of incriminating material found during the search to justify the additions made by the A.O. under Sections 69C and 14A read with Rule 8D. The Tribunal upheld the CIT(A)'s decisions to delete the additions on account of bogus advertisement expenses and purchases, as well as the reduced disallowances under Section 14A. The Tribunal also ruled in favor of the assessee regarding the admissibility of additional grounds raised, stating that completed assessments could only be interfered with based on incriminating material found during the search. en-us Thu, 18 Apr 2019 00:00:00 +0530 Sat, 20 Apr 2019 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378776 The Tribunal dismissed the Revenue's appeals for both assessment years and allowed the assessee's cross-objections. It emphasized the lack of incriminating material found during the search to justify the additions made by the A.O. under Sections 69C and 14A read with Rule 8D. The Tribunal upheld the CIT(A)'s decisions to delete the additions on account of bogus advertisement expenses and purchases, as well as the reduced disallowances under Section 14A. The Tribunal also ruled in favor of the assessee regarding the admissibility of additional grounds raised, stating that completed assessments could only be interfered with based on incriminating material found during the search. Case-Laws Income Tax Thu, 18 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378776