https://www.taxtmi.com/caselaws?id=399008 The Tribunal allowed the appeal, directing the deletion of the Rs. 50 lakhs addition to the sale consideration. It found that the Assessing Officer's addition was based on presumption without sufficient corroborative evidence, leading to the decision in favor of the assessee. The Tribunal emphasized the importance of proper verification and the need for corroborative evidence before making such additions in assessment proceedings. en-us Mon, 28 Sep 2020 00:00:00 +0530 Wed, 30 Sep 2020 13:05:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399008 The Tribunal allowed the appeal, directing the deletion of the Rs. 50 lakhs addition to the sale consideration. It found that the Assessing Officer's addition was based on presumption without sufficient corroborative evidence, leading to the decision in favor of the assessee. The Tribunal emphasized the importance of proper verification and the need for corroborative evidence before making such additions in assessment proceedings. Case-Laws Income Tax Mon, 28 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399008