https://www.taxtmi.com/caselaws?id=421958 The ITAT upheld the CIT(A)'s decision to delete the addition of Rs. 22,00,000 under Section 68 of the Income Tax Act. The ITAT found that the CIT(A) correctly relied on previous decisions, including cases involving BMPL and Sh. Harsh Dalmia. It was noted that the CIT(A) considered all relevant facts and judicial decisions, concluding that the addition was based on suspicion. The ITAT dismissed the Revenue's appeals, affirming the CIT(A)'s decision and applying it to related appeals, resulting in the dismissal of all three appeals by the Revenue. en-us Fri, 22 Apr 2022 00:00:00 +0530 Thu, 05 May 2022 08:34:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421958 The ITAT upheld the CIT(A)'s decision to delete the addition of Rs. 22,00,000 under Section 68 of the Income Tax Act. The ITAT found that the CIT(A) correctly relied on previous decisions, including cases involving BMPL and Sh. Harsh Dalmia. It was noted that the CIT(A) considered all relevant facts and judicial decisions, concluding that the addition was based on suspicion. The ITAT dismissed the Revenue's appeals, affirming the CIT(A)'s decision and applying it to related appeals, resulting in the dismissal of all three appeals by the Revenue. Case-Laws Income Tax Fri, 22 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421958