https://www.taxtmi.com/caselaws?id=299825 The ITAT dismissed the Revenue's appeals for AY 2010-11 to 2015-16, upholding the deletion of additions for gross profit on bogus purchases, share capital and premium under Section 68, unexplained investment in closing stock under Section 69, and loans under Section 68. The ITAT emphasized the necessity of concrete evidence and adherence to legal principles, such as providing cross-examination opportunities and avoiding additions based on assumptions. The appeals filed by the assessee for AY 2012-13, 2014-15, and 2015-16 were allowed. en-us Mon, 03 Dec 2018 00:00:00 +0530 Fri, 31 Dec 2021 08:51:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299825 The ITAT dismissed the Revenue's appeals for AY 2010-11 to 2015-16, upholding the deletion of additions for gross profit on bogus purchases, share capital and premium under Section 68, unexplained investment in closing stock under Section 69, and loans under Section 68. The ITAT emphasized the necessity of concrete evidence and adherence to legal principles, such as providing cross-examination opportunities and avoiding additions based on assumptions. The appeals filed by the assessee for AY 2012-13, 2014-15, and 2015-16 were allowed. Case-Laws Income Tax Mon, 03 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299825