https://www.taxtmi.com/caselaws?id=392837 The Tribunal ruled in favor of the assessee, holding that no addition was justified under Section 69 of the Income Tax Act. The decision overturned the CIT(A)'s order and directed the AO to delete the addition. The Tribunal emphasized the necessity of tangible evidence and rejected the notion of making additions based on conjectures. The appeal by the assessee was allowed, and the grounds raised were accepted, highlighting the significance of concrete evidence in tax assessments. en-us Thu, 27 Feb 2020 00:00:00 +0530 Sat, 29 Feb 2020 11:49:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392837 The Tribunal ruled in favor of the assessee, holding that no addition was justified under Section 69 of the Income Tax Act. The decision overturned the CIT(A)'s order and directed the AO to delete the addition. The Tribunal emphasized the necessity of tangible evidence and rejected the notion of making additions based on conjectures. The appeal by the assessee was allowed, and the grounds raised were accepted, highlighting the significance of concrete evidence in tax assessments. Case-Laws Income Tax Thu, 27 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392837