https://www.taxtmi.com/caselaws?id=419581 The Tribunal allowed the appeal filed by the assessee, dismissing the protective assessment made by the AO. The appeal filed by the revenue was dismissed due to the low tax effect, and the cross objections filed by the assessee were deemed infructuous. The Tribunal concluded that the AO and CIT(A) had relied on insufficient and unverified evidence, and there was no valid basis for the addition made under Section 69 of the Income Tax Act, 1961. en-us Fri, 11 Mar 2022 00:00:00 +0530 Tue, 15 Mar 2022 08:27:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419581 The Tribunal allowed the appeal filed by the assessee, dismissing the protective assessment made by the AO. The appeal filed by the revenue was dismissed due to the low tax effect, and the cross objections filed by the assessee were deemed infructuous. The Tribunal concluded that the AO and CIT(A) had relied on insufficient and unverified evidence, and there was no valid basis for the addition made under Section 69 of the Income Tax Act, 1961. Case-Laws Income Tax Fri, 11 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419581