https://www.taxtmi.com/caselaws?id=281519 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,75,89,941/- as unaccounted profit, finding that the Revenue failed to establish a clear nexus between seized documents and the assessee's business transactions. Additionally, the Tribunal affirmed the deletion of the penalty of Rs. 37,58,994/- under section 271AAA, as the addition was removed, and the assessee met the conditions under the section. The Tribunal referenced a relevant court decision and concluded by dismissing both of the Revenue's appeals. en-us Wed, 22 Feb 2017 00:00:00 +0530 Sat, 22 Jun 2019 06:53:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281519 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,75,89,941/- as unaccounted profit, finding that the Revenue failed to establish a clear nexus between seized documents and the assessee's business transactions. Additionally, the Tribunal affirmed the deletion of the penalty of Rs. 37,58,994/- under section 271AAA, as the addition was removed, and the assessee met the conditions under the section. The Tribunal referenced a relevant court decision and concluded by dismissing both of the Revenue's appeals. Case-Laws Income Tax Wed, 22 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281519