https://www.taxtmi.com/caselaws?id=435385 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s deletion of Gross Profit additions due to insufficient evidence and reliance on coerced statements. The reopening of the assessment for A.Y. 2008-09 was upheld, but the additions were considered unjustified. The Tribunal found discrepancies in the Assessing Officer's reasoning and lack of corroborative evidence beyond retracted statements, leading to the deletion of the additions. The decision emphasized the importance of concrete evidence in tax assessments and highlighted the inadequacy of relying solely on coerced statements without independent verification. en-us Wed, 15 Mar 2023 00:00:00 +0530 Fri, 17 Mar 2023 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435385 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s deletion of Gross Profit additions due to insufficient evidence and reliance on coerced statements. The reopening of the assessment for A.Y. 2008-09 was upheld, but the additions were considered unjustified. The Tribunal found discrepancies in the Assessing Officer's reasoning and lack of corroborative evidence beyond retracted statements, leading to the deletion of the additions. The decision emphasized the importance of concrete evidence in tax assessments and highlighted the inadequacy of relying solely on coerced statements without independent verification. Case-Laws Income Tax Wed, 15 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435385