https://www.taxtmi.com/caselaws?id=435391 The Tribunal found the notice issued under Section 153C to be invalid as it did not meet legal requirements. The assessment made by the AO was deemed invalid due to lack of specific incriminating evidence. The estimation of income based on unaccounted sales was rejected for lack of evidence. Seized documents were considered to have no evidentiary value. The AO's addition of undisclosed income was unsupported by credible evidence. The CIT(A)'s profit estimation was deemed erroneous. The revenue's appeal was dismissed for not meeting the prescribed tax effect threshold. The Tribunal ruled in favor of the assessee, directing the deletion of additions in the assessee's hands. en-us Thu, 16 Mar 2023 00:00:00 +0530 Sat, 18 Mar 2023 08:30:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435391 The Tribunal found the notice issued under Section 153C to be invalid as it did not meet legal requirements. The assessment made by the AO was deemed invalid due to lack of specific incriminating evidence. The estimation of income based on unaccounted sales was rejected for lack of evidence. Seized documents were considered to have no evidentiary value. The AO's addition of undisclosed income was unsupported by credible evidence. The CIT(A)'s profit estimation was deemed erroneous. The revenue's appeal was dismissed for not meeting the prescribed tax effect threshold. The Tribunal ruled in favor of the assessee, directing the deletion of additions in the assessee's hands. Case-Laws Income Tax Thu, 16 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435391