https://www.taxtmi.com/caselaws?id=421503 The Tribunal ruled in favor of the assessee, deleting all additions made by the AO for the assessment years in question. The Tribunal emphasized that the additions lacked incriminating material and were based on presumptions and estimates. Additionally, the Tribunal overturned the income enhancement by the CIT(A) for certain years, stating that no income was received post a specific date. The Tribunal also found that the income was not taxable for the years when the assessee was a non-resident, as there was no evidence of income accrued in India. Furthermore, foreign references and information received were deemed insufficient to establish any nexus with the alleged undisclosed income. en-us Wed, 09 Mar 2022 00:00:00 +0530 Mon, 25 Apr 2022 21:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421503 The Tribunal ruled in favor of the assessee, deleting all additions made by the AO for the assessment years in question. The Tribunal emphasized that the additions lacked incriminating material and were based on presumptions and estimates. Additionally, the Tribunal overturned the income enhancement by the CIT(A) for certain years, stating that no income was received post a specific date. The Tribunal also found that the income was not taxable for the years when the assessee was a non-resident, as there was no evidence of income accrued in India. Furthermore, foreign references and information received were deemed insufficient to establish any nexus with the alleged undisclosed income. Case-Laws Income Tax Wed, 09 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421503