https://www.taxtmi.com/caselaws?id=404175 The ITAT concluded that additions under Sections 68 and 69C of the Income Tax Act, 1961, were unsustainable due to the absence of incriminating material found during the search. The Tribunal also found the treatment of profits as unexplained cash credit unjustified, citing a lack of independent investigation. Additionally, the denial of the opportunity to cross-examine witnesses was deemed a violation of natural justice. Consequently, the appeals were partly allowed, and the impugned additions were deleted. en-us Mon, 01 Feb 2021 00:00:00 +0530 Tue, 29 Oct 2024 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404175 The ITAT concluded that additions under Sections 68 and 69C of the Income Tax Act, 1961, were unsustainable due to the absence of incriminating material found during the search. The Tribunal also found the treatment of profits as unexplained cash credit unjustified, citing a lack of independent investigation. Additionally, the denial of the opportunity to cross-examine witnesses was deemed a violation of natural justice. Consequently, the appeals were partly allowed, and the impugned additions were deleted. Case-Laws Income Tax Mon, 01 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404175