https://www.taxtmi.com/caselaws?id=281286 The ITAT upheld the CIT(A)'s decision to delete the addition of surrendered income under section 132(4) of the Income Tax Act, 1961, due to lack of corroborative evidence linking the income to incriminating material. The revenue's appeal was dismissed. Additionally, the ITAT quashed the penalty order citing flaws in the initiation of penalty proceedings, leading to the assessee's appeal being allowed. en-us Wed, 13 Feb 2019 00:00:00 +0530 Tue, 11 Jun 2019 19:33:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281286 The ITAT upheld the CIT(A)'s decision to delete the addition of surrendered income under section 132(4) of the Income Tax Act, 1961, due to lack of corroborative evidence linking the income to incriminating material. The revenue's appeal was dismissed. Additionally, the ITAT quashed the penalty order citing flaws in the initiation of penalty proceedings, leading to the assessee's appeal being allowed. Case-Laws Income Tax Wed, 13 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281286