https://www.taxtmi.com/caselaws?id=307467 The tribunal held that the addition of Rs. 74,57,194/- for "on-money" receipt and the disallowance of Rs. 12,77,786/- for cost of improvement were not sustainable. The tribunal found that the Assessing Officer and Commissioner of Income Tax (Appeals) failed to provide sufficient corroborative evidence for the additions, relying solely on rough notings and presumptions. Citing legal precedents, the tribunal emphasized the lack of conclusive evidence and overturned the additions, deeming them based on conjectures. The appeals were disposed of accordingly. en-us Fri, 16 Sep 2022 00:00:00 +0530 Sat, 15 Apr 2023 00:17:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307467 The tribunal held that the addition of Rs. 74,57,194/- for "on-money" receipt and the disallowance of Rs. 12,77,786/- for cost of improvement were not sustainable. The tribunal found that the Assessing Officer and Commissioner of Income Tax (Appeals) failed to provide sufficient corroborative evidence for the additions, relying solely on rough notings and presumptions. Citing legal precedents, the tribunal emphasized the lack of conclusive evidence and overturned the additions, deeming them based on conjectures. The appeals were disposed of accordingly. Case-Laws Income Tax Fri, 16 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307467