https://www.taxtmi.com/caselaws?id=387358 The Tribunal partly allowed the appeal, directing a fresh consideration by the AO regarding the addition under Section 68. The assessee was granted the benefit of set off of the current year's business loss against the addition made under Section 68, as provisions disallowing such set off were not applicable for the assessment year in question. The Tribunal also held that the CIT(Appeals) should have admitted additional evidence filed by the assessee to allow proper adjudication of the issue, remanding the matter to the AO for reconsideration. en-us Fri, 20 Sep 2019 00:00:00 +0530 Tue, 22 Oct 2019 10:29:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387358 The Tribunal partly allowed the appeal, directing a fresh consideration by the AO regarding the addition under Section 68. The assessee was granted the benefit of set off of the current year's business loss against the addition made under Section 68, as provisions disallowing such set off were not applicable for the assessment year in question. The Tribunal also held that the CIT(Appeals) should have admitted additional evidence filed by the assessee to allow proper adjudication of the issue, remanding the matter to the AO for reconsideration. Case-Laws Income Tax Fri, 20 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387358