https://www.taxtmi.com/caselaws?id=413455 The ITAT dismissed the Revenue's appeal and allowed the assessee's appeal for AY 2008-09. The ITAT emphasized the importance of incriminating material and proper procedures in making additions during assessments. The deletion of the addition of Rs. 75 lakhs was ordered as the reliance on the director's statement without confrontation for cross-examination was deemed insufficient, following a Supreme Court decision emphasizing the need for such opportunity before making additions based on statements. en-us Thu, 07 Oct 2021 00:00:00 +0530 Tue, 12 Oct 2021 09:29:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413455 The ITAT dismissed the Revenue's appeal and allowed the assessee's appeal for AY 2008-09. The ITAT emphasized the importance of incriminating material and proper procedures in making additions during assessments. The deletion of the addition of Rs. 75 lakhs was ordered as the reliance on the director's statement without confrontation for cross-examination was deemed insufficient, following a Supreme Court decision emphasizing the need for such opportunity before making additions based on statements. Case-Laws Income Tax Thu, 07 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413455