https://www.taxtmi.com/caselaws?id=410356 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order. It held that the addition made by the AO regarding gain on the sale of investment was not sustainable in the eyes of the law as it was based solely on a statement without any incriminating material. The Tribunal reiterated that in the absence of such material, no addition could be made under Section 153A read with Section 143(3) of the Income Tax Act. en-us Thu, 29 Jul 2021 00:00:00 +0530 Fri, 30 Jul 2021 09:10:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410356 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order. It held that the addition made by the AO regarding gain on the sale of investment was not sustainable in the eyes of the law as it was based solely on a statement without any incriminating material. The Tribunal reiterated that in the absence of such material, no addition could be made under Section 153A read with Section 143(3) of the Income Tax Act. Case-Laws Income Tax Thu, 29 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410356