https://www.taxtmi.com/caselaws?id=401255 The High Court dismissed the tax case appeals filed by the Revenue, confirming the Tribunal's decision. The Court found that the seized documents did not establish a direct link with the relevant assessment years under Section 153C of the Income Tax Act. Additionally, the denial of exemption under Section 11 was upheld due to the lack of evidence proving the nexus between withdrawals and deposits in bank accounts. The assessments based on seized documents and incriminating material were also deemed unjustified, leading to the dismissal of the Revenue's appeals. en-us Tue, 24 Nov 2020 00:00:00 +0530 Tue, 16 Nov 2021 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401255 The High Court dismissed the tax case appeals filed by the Revenue, confirming the Tribunal's decision. The Court found that the seized documents did not establish a direct link with the relevant assessment years under Section 153C of the Income Tax Act. Additionally, the denial of exemption under Section 11 was upheld due to the lack of evidence proving the nexus between withdrawals and deposits in bank accounts. The assessments based on seized documents and incriminating material were also deemed unjustified, leading to the dismissal of the Revenue's appeals. Case-Laws Income Tax Tue, 24 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401255