https://www.taxtmi.com/caselaws?id=406946 The Tribunal upheld the deletion of the addition of Rs. 3,16,65,000/- in the case of the assessee-firm, as it was not in existence during the relevant assessment year. The Revenue's appeal was dismissed, affirming the CIT(A)'s decision. The Tribunal emphasized the lack of evidence linking the firm to the alleged unaccounted income and ruled that no assessment could be made on a non-existent entity. The addition was deemed unjustified, and the firm was not held liable for the amount in question. en-us Mon, 08 Mar 2021 00:00:00 +0530 Tue, 27 Apr 2021 12:15:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406946 The Tribunal upheld the deletion of the addition of Rs. 3,16,65,000/- in the case of the assessee-firm, as it was not in existence during the relevant assessment year. The Revenue's appeal was dismissed, affirming the CIT(A)'s decision. The Tribunal emphasized the lack of evidence linking the firm to the alleged unaccounted income and ruled that no assessment could be made on a non-existent entity. The addition was deemed unjustified, and the firm was not held liable for the amount in question. Case-Laws Income Tax Mon, 08 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406946