https://www.taxtmi.com/caselaws?id=433942 The Tribunal vacated the addition of Rs. 4,55,639 towards unexplained investment in jewelry, finding no justification for the AO's decision based on facts already considered by the search team. Additionally, the Tribunal ruled against the retrospective application of Section 115BBE for a higher tax rate on surrendered income, emphasizing the principles of natural justice. The Tribunal directed the AO to compute tax under Section 271AAB instead, providing relief to the assessee on both counts. en-us Wed, 08 Feb 2023 00:00:00 +0530 Fri, 01 Dec 2023 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433942 The Tribunal vacated the addition of Rs. 4,55,639 towards unexplained investment in jewelry, finding no justification for the AO's decision based on facts already considered by the search team. Additionally, the Tribunal ruled against the retrospective application of Section 115BBE for a higher tax rate on surrendered income, emphasizing the principles of natural justice. The Tribunal directed the AO to compute tax under Section 271AAB instead, providing relief to the assessee on both counts. Case-Laws Income Tax Wed, 08 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433942