https://www.taxtmi.com/caselaws?id=395453 The Tribunal reversed the lower authorities' decisions and directed the deletion of the addition of Rs. 8.75 crores in the assessee's hands. It was found that the seized documents did not conclusively prove the commission receipt, and the assessee successfully rebutted the presumption under section 292C of the Income Tax Act. The Tribunal emphasized the lack of corroborative evidence supporting the alleged commission receipt and concluded that no income accrued to the assessee from the commission. As a result, both of the assessee's appeals were allowed, and the addition was deleted. en-us Mon, 18 May 2020 00:00:00 +0530 Wed, 22 Jul 2020 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395453 The Tribunal reversed the lower authorities' decisions and directed the deletion of the addition of Rs. 8.75 crores in the assessee's hands. It was found that the seized documents did not conclusively prove the commission receipt, and the assessee successfully rebutted the presumption under section 292C of the Income Tax Act. The Tribunal emphasized the lack of corroborative evidence supporting the alleged commission receipt and concluded that no income accrued to the assessee from the commission. As a result, both of the assessee's appeals were allowed, and the addition was deleted. Case-Laws Income Tax Mon, 18 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395453