https://www.taxtmi.com/caselaws?id=299528 The tribunal dismissed the revenue's appeal for assessment years 2012-13 and 2013-14, ruling in favor of the assessee. The addition based on alleged on-money transactions was deleted as there was no concrete evidence linking the assessee to the transactions. Additionally, disallowances of conveyance and telephone charges were overturned as the expenses were deemed legitimate for business purposes. The tribunal emphasized the importance of corroborative evidence and consistency in decision-making, aligning with precedents in similar cases involving the group of companies. en-us Mon, 31 May 2021 00:00:00 +0530 Sat, 18 Dec 2021 08:43:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299528 The tribunal dismissed the revenue's appeal for assessment years 2012-13 and 2013-14, ruling in favor of the assessee. The addition based on alleged on-money transactions was deleted as there was no concrete evidence linking the assessee to the transactions. Additionally, disallowances of conveyance and telephone charges were overturned as the expenses were deemed legitimate for business purposes. The tribunal emphasized the importance of corroborative evidence and consistency in decision-making, aligning with precedents in similar cases involving the group of companies. Case-Laws Income Tax Mon, 31 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299528