https://www.taxtmi.com/caselaws?id=403353 The Tribunal ruled in favor of the assessee, deleting additions made by the AO for various reasons, including lack of incriminating material, unexplained unsecured loans, undisclosed investments, and disallowance under section 40A(3). The Tribunal emphasized the necessity of corroborating evidence to support additions and upheld the deletions based on the genuineness of transactions and lack of concrete evidence provided by the AO. The Tribunal dismissed the Revenue's appeals and allowed the assessee's appeals, affirming the deletions made by the CIT(A) in multiple instances. en-us Fri, 08 Jan 2021 00:00:00 +0530 Wed, 27 Jan 2021 10:47:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403353 The Tribunal ruled in favor of the assessee, deleting additions made by the AO for various reasons, including lack of incriminating material, unexplained unsecured loans, undisclosed investments, and disallowance under section 40A(3). The Tribunal emphasized the necessity of corroborating evidence to support additions and upheld the deletions based on the genuineness of transactions and lack of concrete evidence provided by the AO. The Tribunal dismissed the Revenue's appeals and allowed the assessee's appeals, affirming the deletions made by the CIT(A) in multiple instances. Case-Laws Income Tax Fri, 08 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403353