https://www.taxtmi.com/caselaws?id=412954 The appeal by the revenue challenging the deletion of an addition of on-money paid to a Builder for acquiring a flat was dismissed. The court found that there was insufficient evidence linking the non-resident assessee directly to the alleged unaccounted income, despite admissions during search operations. The application of section 132(4A) of the IT Act was deemed inapplicable to the non-searched person, emphasizing the need for corroborative evidence to support such additions. The judgment highlighted the importance of concrete evidence and direct linkage in assessing unaccounted income, ultimately affirming the dismissal of the appeal. en-us Wed, 01 Sep 2021 00:00:00 +0530 Fri, 01 Oct 2021 08:33:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412954 The appeal by the revenue challenging the deletion of an addition of on-money paid to a Builder for acquiring a flat was dismissed. The court found that there was insufficient evidence linking the non-resident assessee directly to the alleged unaccounted income, despite admissions during search operations. The application of section 132(4A) of the IT Act was deemed inapplicable to the non-searched person, emphasizing the need for corroborative evidence to support such additions. The judgment highlighted the importance of concrete evidence and direct linkage in assessing unaccounted income, ultimately affirming the dismissal of the appeal. Case-Laws Income Tax Wed, 01 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412954