https://www.taxtmi.com/caselaws?id=398063 The Tribunal ruled in favor of the assessee, holding that the assessment conducted under section 153A of the IT Act was not legally valid due to lack of corroborative evidence for capitation fees. The denial of exemption under section 11 was unjustified as evidence of capitation fees was insufficient. Cash seized was found to be duly accounted for, leading to deletion of additions. The Tribunal also deleted additions related to valuation discrepancies, emphasizing the need for proper examination of documents before making additions based on seized materials. The assessee's appeals were allowed, while the Revenue's appeals were dismissed. en-us Thu, 25 Jun 2020 00:00:00 +0530 Tue, 22 Sep 2020 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398063 The Tribunal ruled in favor of the assessee, holding that the assessment conducted under section 153A of the IT Act was not legally valid due to lack of corroborative evidence for capitation fees. The denial of exemption under section 11 was unjustified as evidence of capitation fees was insufficient. Cash seized was found to be duly accounted for, leading to deletion of additions. The Tribunal also deleted additions related to valuation discrepancies, emphasizing the need for proper examination of documents before making additions based on seized materials. The assessee's appeals were allowed, while the Revenue's appeals were dismissed. Case-Laws Income Tax Thu, 25 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398063