https://www.taxtmi.com/caselaws?id=417210 The Tribunal found that the addition of Rs. 1,05,51,219/- as undisclosed income was not justified as it was based on documents and statements from individuals not directly involved in the transaction with the assessee. The Tribunal emphasized the importance of providing the assessee with an opportunity for rebuttal and cross-examination, ruling that the addition was unsustainable without such procedural fairness. Additionally, the Tribunal highlighted the need for consistent treatment of co-owners in similar transactions and concluded that since the co-owner's addition had been deleted, no addition should be made in the hands of the assessee. The Tribunal directed the AO to delete the addition, allowing the assessee's appeal. en-us Thu, 09 Dec 2021 00:00:00 +0530 Tue, 18 Jan 2022 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417210 The Tribunal found that the addition of Rs. 1,05,51,219/- as undisclosed income was not justified as it was based on documents and statements from individuals not directly involved in the transaction with the assessee. The Tribunal emphasized the importance of providing the assessee with an opportunity for rebuttal and cross-examination, ruling that the addition was unsustainable without such procedural fairness. Additionally, the Tribunal highlighted the need for consistent treatment of co-owners in similar transactions and concluded that since the co-owner's addition had been deleted, no addition should be made in the hands of the assessee. The Tribunal directed the AO to delete the addition, allowing the assessee's appeal. Case-Laws Income Tax Thu, 09 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417210