https://www.taxtmi.com/caselaws?id=394886 The Supreme Court allowed the appeal, setting aside the addition of Rs. 2,26,000 under Section 68 of the Income Tax Act, 1961. The Court found that the evidence presented during penalty proceedings contradicted the basis for the original addition, leading to the removal of the amount from the assessment. The rest of the assessment order, as modified by the CIT(A), remained unchanged. en-us Fri, 24 Apr 2020 00:00:00 +0530 Wed, 19 Aug 2020 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394886 The Supreme Court allowed the appeal, setting aside the addition of Rs. 2,26,000 under Section 68 of the Income Tax Act, 1961. The Court found that the evidence presented during penalty proceedings contradicted the basis for the original addition, leading to the removal of the amount from the assessment. The rest of the assessment order, as modified by the CIT(A), remained unchanged. Case-Laws Income Tax Fri, 24 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394886