https://www.taxtmi.com/caselaws?id=427093 The Tribunal dismissed the Revenue's appeal challenging the additions made by the Assessing Officer for the assessment year 2008-2009. It upheld the deletion of additions for unaccounted investment and gross profit, emphasizing the lack of independent inquiries by the Assessing Officer and the reliance on Customs Authorities' information. The Tribunal found no substantial question of law and justified the dismissal based on concurrent factual findings. The decision highlighted the importance of corroborating evidence and the burden of proof on the assessee to disprove statements, leading to the deletion of the additions. en-us Fri, 22 Jul 2022 00:00:00 +0530 Thu, 01 Sep 2022 08:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427093 The Tribunal dismissed the Revenue's appeal challenging the additions made by the Assessing Officer for the assessment year 2008-2009. It upheld the deletion of additions for unaccounted investment and gross profit, emphasizing the lack of independent inquiries by the Assessing Officer and the reliance on Customs Authorities' information. The Tribunal found no substantial question of law and justified the dismissal based on concurrent factual findings. The decision highlighted the importance of corroborating evidence and the burden of proof on the assessee to disprove statements, leading to the deletion of the additions. Case-Laws Income Tax Fri, 22 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427093