https://www.taxtmi.com/caselaws?id=434002 The Tribunal concluded that the addition of Rs. 10,00,626 under section 69A of the Income Tax Act was not sustainable either jurisdictionally or on its merits. It found that the Assessing Officer had erred by making the addition in a rectification order rather than in the original assessment order, and that the estimation of cash was based on flawed assumptions and conjectures. Consequently, the Tribunal directed the deletion of the addition, thereby ruling in favor of the assessee. en-us Mon, 13 Feb 2023 00:00:00 +0530 Tue, 26 Nov 2024 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434002 The Tribunal concluded that the addition of Rs. 10,00,626 under section 69A of the Income Tax Act was not sustainable either jurisdictionally or on its merits. It found that the Assessing Officer had erred by making the addition in a rectification order rather than in the original assessment order, and that the estimation of cash was based on flawed assumptions and conjectures. Consequently, the Tribunal directed the deletion of the addition, thereby ruling in favor of the assessee. Case-Laws Income Tax Mon, 13 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434002