https://www.taxtmi.com/caselaws?id=414533 The appellate tribunal ruled in favor of the assessee, deleting the addition of Rs. 17,21,255 under section 69C of the Income Tax Act for the Assessment Year 2014-15. The tribunal emphasized the importance of the Assessing Officer providing a reasoned rejection of evidence presented by the assessee, noting that substantial evidence cannot be disregarded without proper justification. The tribunal highlighted the failure of the Assessing Officer to engage with the evidence, leading to the deletion of the addition. en-us Mon, 25 Oct 2021 00:00:00 +0530 Wed, 10 Nov 2021 07:01:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414533 The appellate tribunal ruled in favor of the assessee, deleting the addition of Rs. 17,21,255 under section 69C of the Income Tax Act for the Assessment Year 2014-15. The tribunal emphasized the importance of the Assessing Officer providing a reasoned rejection of evidence presented by the assessee, noting that substantial evidence cannot be disregarded without proper justification. The tribunal highlighted the failure of the Assessing Officer to engage with the evidence, leading to the deletion of the addition. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414533