https://www.taxtmi.com/caselaws?id=408823 The Tribunal allowed the assessee's appeal, directing the deletion of additions for AY 2014-15 due to the absence of incriminating material and lack of corroborative evidence for alleged transactions. The Tribunal emphasized the requirement for corroborative evidence and dismissed Revenue's appeals for AYs 2011-12 and 2013-14 based on low tax effect, following CBDT Circular guidelines. The Tribunal upheld the principle that suspicion cannot replace evidence, citing relevant Supreme Court decisions. en-us Mon, 21 Jun 2021 00:00:00 +0530 Tue, 22 Jun 2021 09:15:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408823 The Tribunal allowed the assessee's appeal, directing the deletion of additions for AY 2014-15 due to the absence of incriminating material and lack of corroborative evidence for alleged transactions. The Tribunal emphasized the requirement for corroborative evidence and dismissed Revenue's appeals for AYs 2011-12 and 2013-14 based on low tax effect, following CBDT Circular guidelines. The Tribunal upheld the principle that suspicion cannot replace evidence, citing relevant Supreme Court decisions. Case-Laws Income Tax Mon, 21 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408823