https://www.taxtmi.com/caselaws?id=427211 The Tribunal dismissed the Revenue's appeal in a case involving assessment years 2007-08 under the Income Tax Act, 1961. The appeal challenged the deletion of an addition of Rs. 2,57,69,929 on account of contract income not offered for taxation. The Tribunal upheld the decision, emphasizing the requirement of incriminating material for revising completed assessments. Additionally, the Tribunal dismissed the appeal regarding the restriction of addition under section 41(1) of the Act, citing a previous ruling in favor of the assessee. en-us Wed, 31 Aug 2022 00:00:00 +0530 Fri, 02 Sep 2022 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427211 The Tribunal dismissed the Revenue's appeal in a case involving assessment years 2007-08 under the Income Tax Act, 1961. The appeal challenged the deletion of an addition of Rs. 2,57,69,929 on account of contract income not offered for taxation. The Tribunal upheld the decision, emphasizing the requirement of incriminating material for revising completed assessments. Additionally, the Tribunal dismissed the appeal regarding the restriction of addition under section 41(1) of the Act, citing a previous ruling in favor of the assessee. Case-Laws Income Tax Wed, 31 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427211