https://www.taxtmi.com/caselaws?id=420825 The Tribunal allowed the appeal, holding that the additions made by the Assessing Officer without incriminating evidence found during the search were not justified. The Tribunal also deleted the addition of Rs. 25,50,000/- based on the disclosure before the Income Tax Settlement Commission (ITSC), emphasizing that such disclosures cannot be used for additions when settlement proceedings fail and no incriminating material is found during the search. The Tribunal concluded that the CIT(A) erred in confirming the additions, and ordered their deletion. en-us Tue, 05 Apr 2022 00:00:00 +0530 Mon, 11 Apr 2022 08:40:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420825 The Tribunal allowed the appeal, holding that the additions made by the Assessing Officer without incriminating evidence found during the search were not justified. The Tribunal also deleted the addition of Rs. 25,50,000/- based on the disclosure before the Income Tax Settlement Commission (ITSC), emphasizing that such disclosures cannot be used for additions when settlement proceedings fail and no incriminating material is found during the search. The Tribunal concluded that the CIT(A) erred in confirming the additions, and ordered their deletion. Case-Laws Income Tax Tue, 05 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420825