https://www.taxtmi.com/caselaws?id=406477 The Tribunal upheld the jurisdiction assumed under Section 147 of the Income Tax Act, dismissing the cross appeal challenging this jurisdiction. Additionally, the Tribunal agreed with the CIT(A) in deleting the addition of Rs. 4 Crore under Section 68, emphasizing the lack of credible evidence linking the seized materials to the assessee. Both the Revenue's appeal and the assessee's cross appeal were dismissed, with the Tribunal affirming the CIT(A)'s decisions on jurisdiction and the deletion of the addition. en-us Tue, 13 Apr 2021 00:00:00 +0530 Wed, 14 Apr 2021 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406477 The Tribunal upheld the jurisdiction assumed under Section 147 of the Income Tax Act, dismissing the cross appeal challenging this jurisdiction. Additionally, the Tribunal agreed with the CIT(A) in deleting the addition of Rs. 4 Crore under Section 68, emphasizing the lack of credible evidence linking the seized materials to the assessee. Both the Revenue's appeal and the assessee's cross appeal were dismissed, with the Tribunal affirming the CIT(A)'s decisions on jurisdiction and the deletion of the addition. Case-Laws Income Tax Tue, 13 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406477