https://www.taxtmi.com/caselaws?id=436031 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs.3,47,53,664/- as undisclosed income for the Private Limited Company. It emphasized the importance of consistency in taxing undisclosed income and rejected the Revenue's arguments regarding separate consideration of assessment years and the genuineness of unaccounted liability. The Tribunal's ruling was based on established principles and the CIT(A)'s detailed analysis, affirming that the AO should not apply different principles without valid reasons across different assessment years. en-us Mon, 29 Aug 2022 00:00:00 +0530 Sat, 01 Apr 2023 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436031 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs.3,47,53,664/- as undisclosed income for the Private Limited Company. It emphasized the importance of consistency in taxing undisclosed income and rejected the Revenue's arguments regarding separate consideration of assessment years and the genuineness of unaccounted liability. The Tribunal's ruling was based on established principles and the CIT(A)'s detailed analysis, affirming that the AO should not apply different principles without valid reasons across different assessment years. Case-Laws Income Tax Mon, 29 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436031