https://www.taxtmi.com/caselaws?id=415135 The Tribunal dismissed the revenue's appeals, affirming the CIT(A)'s orders to remove the additions by the AO. It emphasized the necessity of concrete evidence over assumptions and rough estimates in income determination. The Tribunal found the AO's actions arbitrary, lacking supporting evidence, and based on suspicion rather than facts. Additionally, it deemed seized documents from a different assessment year irrelevant for justifying additions in subsequent years without proper evidence. The decision rested on a detailed review of facts, arguments, and legal precedents. en-us Wed, 15 Sep 2021 00:00:00 +0530 Fri, 26 Nov 2021 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415135 The Tribunal dismissed the revenue's appeals, affirming the CIT(A)'s orders to remove the additions by the AO. It emphasized the necessity of concrete evidence over assumptions and rough estimates in income determination. The Tribunal found the AO's actions arbitrary, lacking supporting evidence, and based on suspicion rather than facts. Additionally, it deemed seized documents from a different assessment year irrelevant for justifying additions in subsequent years without proper evidence. The decision rested on a detailed review of facts, arguments, and legal precedents. Case-Laws Income Tax Wed, 15 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415135