https://www.taxtmi.com/caselaws?id=391408 The Tribunal ruled in favor of the assessee in all aspects, deleting the additions made by the Assessing Officer. The Tribunal found discrepancies in the AO's claims regarding surrendered cash and stock during the survey, lack of concrete evidence for expenditure additions, and insufficient reasoning for unaccounted wages and adhoc disallowance of expenses. Additionally, the Tribunal accepted the assessee's retraction of the surrender statement, considering coercion and lack of evidence. Consequently, all disputed additions were deleted based on the assessee's detailed submissions and legal principles. en-us Thu, 02 Jan 2020 00:00:00 +0530 Tue, 28 Jan 2020 09:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391408 The Tribunal ruled in favor of the assessee in all aspects, deleting the additions made by the Assessing Officer. The Tribunal found discrepancies in the AO's claims regarding surrendered cash and stock during the survey, lack of concrete evidence for expenditure additions, and insufficient reasoning for unaccounted wages and adhoc disallowance of expenses. Additionally, the Tribunal accepted the assessee's retraction of the surrender statement, considering coercion and lack of evidence. Consequently, all disputed additions were deleted based on the assessee's detailed submissions and legal principles. Case-Laws Income Tax Thu, 02 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391408