https://www.taxtmi.com/caselaws?id=288197 The ITAT Delhi dismissed the Revenue's appeal regarding the addition of undisclosed income in the assessee's hands for the assessment year 2008-09. The Assessing Officer's addition of Rs. 73.85 lakhs was reduced to a nominal amount of Rs. 1 lakh by the CIT(A), with the remaining sum deleted from the assessee's income. The ITAT emphasized the lack of substantive additions in related parties' hands, deeming the protective assessment unwarranted. Consequently, the Revenue's appeal was dismissed, affirming the deletion of the substantial addition from the assessee's income. en-us Tue, 05 Jun 2018 00:00:00 +0530 Mon, 25 May 2020 17:15:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288197 The ITAT Delhi dismissed the Revenue's appeal regarding the addition of undisclosed income in the assessee's hands for the assessment year 2008-09. The Assessing Officer's addition of Rs. 73.85 lakhs was reduced to a nominal amount of Rs. 1 lakh by the CIT(A), with the remaining sum deleted from the assessee's income. The ITAT emphasized the lack of substantive additions in related parties' hands, deeming the protective assessment unwarranted. Consequently, the Revenue's appeal was dismissed, affirming the deletion of the substantial addition from the assessee's income. Case-Laws Income Tax Tue, 05 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288197