https://www.taxtmi.com/caselaws?id=289925 The Tribunal ruled in favor of the assessee, deleting the additions of Rs. 3,12,790/- and Rs. 6,056/- to the income. It found that the AO's reliance on the investigation report was insufficient to prove the assessee's involvement in fictitious transactions. The Tribunal emphasized the lack of evidence establishing collusion or malafide intent, ultimately allowing the appeal in part. The issue regarding the validity of the order under section 147 was not addressed due to the favorable findings on the case merits. en-us Tue, 21 May 2019 00:00:00 +0530 Sun, 30 Aug 2020 13:28:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289925 The Tribunal ruled in favor of the assessee, deleting the additions of Rs. 3,12,790/- and Rs. 6,056/- to the income. It found that the AO's reliance on the investigation report was insufficient to prove the assessee's involvement in fictitious transactions. The Tribunal emphasized the lack of evidence establishing collusion or malafide intent, ultimately allowing the appeal in part. The issue regarding the validity of the order under section 147 was not addressed due to the favorable findings on the case merits. Case-Laws Income Tax Tue, 21 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289925