https://www.taxtmi.com/caselaws?id=30876 HC dismissed the revenue's appeal and upheld the ITAT's order affirming the CIT(A). It was held that additions could not be sustained merely on the basis of notings in seized diaries when those notings had been reconciled with the regular accounts and supporting material. The assessee was liable to tax only on receipts proved to be income in the hands of the recipient. Finding that the ITAT, as final fact-finding authority, had relied on valid and cogent material, HC held no perversity or substantial question of law arose. en-us Fri, 26 Sep 2008 00:00:00 +0530 Fri, 21 Nov 2025 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30876 HC dismissed the revenue's appeal and upheld the ITAT's order affirming the CIT(A). It was held that additions could not be sustained merely on the basis of notings in seized diaries when those notings had been reconciled with the regular accounts and supporting material. The assessee was liable to tax only on receipts proved to be income in the hands of the recipient. Finding that the ITAT, as final fact-finding authority, had relied on valid and cogent material, HC held no perversity or substantial question of law arose. Case-Laws Income Tax Fri, 26 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30876