https://www.taxtmi.com/caselaws?id=25872 The High Court ruled in favor of the Revenue, setting aside the Tribunal's decision and directing the parties to bear their respective costs. The Court found that the Tribunal's deletion of the addition of Rs. 50,000 without taking additional evidence was incorrect, as it was based on conjectures rather than concrete evidence. The High Court criticized the Tribunal's reasoning for being speculative and upheld the assessing authority's decision, invoking its advisory jurisdiction to overturn the Tribunal's ruling. en-us Fri, 27 Feb 1987 00:00:00 +0530 Mon, 01 Feb 2010 13:56:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25872 The High Court ruled in favor of the Revenue, setting aside the Tribunal's decision and directing the parties to bear their respective costs. The Court found that the Tribunal's deletion of the addition of Rs. 50,000 without taking additional evidence was incorrect, as it was based on conjectures rather than concrete evidence. The High Court criticized the Tribunal's reasoning for being speculative and upheld the assessing authority's decision, invoking its advisory jurisdiction to overturn the Tribunal's ruling. Case-Laws Income Tax Fri, 27 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25872