https://www.taxtmi.com/caselaws?id=420145 The Tribunal found that the additions made by the Assessing Officer and confirmed by the CIT(A) were based on incorrect and arbitrary estimates, unsupported by credible evidence. The retraction of the surrender was justified, and detailed explanations and evidence provided by the assessee were unrebutted. Consequently, all additions were directed to be deleted, and the appeal of the assessee was allowed. en-us Wed, 09 Mar 2022 00:00:00 +0530 Sun, 27 Mar 2022 10:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420145 The Tribunal found that the additions made by the Assessing Officer and confirmed by the CIT(A) were based on incorrect and arbitrary estimates, unsupported by credible evidence. The retraction of the surrender was justified, and detailed explanations and evidence provided by the assessee were unrebutted. Consequently, all additions were directed to be deleted, and the appeal of the assessee was allowed. Case-Laws Income Tax Wed, 09 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420145