https://www.taxtmi.com/caselaws?id=433570 The Tribunal allowed the assessee's appeal, quashing the Revision order under section 263 of the Income Tax Act for Assessment Year 2012-13. It upheld the original assessment order, emphasizing the lack of incriminating material during the search operation, which rendered the proposed additions by the Principal Commissioner of Income Tax invalid. The Tribunal relied on legal precedents to conclude that additions cannot be made without incriminating evidence, ultimately ruling in favor of the assessee and against the Revision proceedings. en-us Tue, 31 Jan 2023 00:00:00 +0530 Fri, 03 Feb 2023 06:31:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433570 The Tribunal allowed the assessee's appeal, quashing the Revision order under section 263 of the Income Tax Act for Assessment Year 2012-13. It upheld the original assessment order, emphasizing the lack of incriminating material during the search operation, which rendered the proposed additions by the Principal Commissioner of Income Tax invalid. The Tribunal relied on legal precedents to conclude that additions cannot be made without incriminating evidence, ultimately ruling in favor of the assessee and against the Revision proceedings. Case-Laws Income Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433570