https://www.taxtmi.com/caselaws?id=431725 The Tribunal ruled in favor of the assessee, directing the deletion of the disputed addition of Rs. 7,15,000. The decision emphasized the importance of credible evidence in assessment proceedings under sections 143(3) and 68, highlighting the necessity of substantiating additions with direct material rather than surmises or conjectures. The Tribunal granted consequential relief and legal claims, emphasizing the need for substantial justice and supporting the assessee's contentions with concrete evidence. en-us Tue, 13 Dec 2022 00:00:00 +0530 Tue, 20 Dec 2022 10:03:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431725 The Tribunal ruled in favor of the assessee, directing the deletion of the disputed addition of Rs. 7,15,000. The decision emphasized the importance of credible evidence in assessment proceedings under sections 143(3) and 68, highlighting the necessity of substantiating additions with direct material rather than surmises or conjectures. The Tribunal granted consequential relief and legal claims, emphasizing the need for substantial justice and supporting the assessee's contentions with concrete evidence. Case-Laws Income Tax Tue, 13 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431725