https://www.taxtmi.com/caselaws?id=438306 The Appellate Tribunal dismissed the Revenue's appeal, upholding the deletion of the addition of on-money receipts in the income of the assessee firm for Assessment Year 2015-2016. The Tribunal found the Assessing Officer's extrapolation of on-money receipts lacked substantial evidence and was based on unreliable material, leading to the conclusion that the addition was not justified. The decision was based on the lack of direct evidence for on-money transactions in the relevant assessment year and the unreliable nature of the evidence presented. en-us Tue, 07 Mar 2023 00:00:00 +0530 Sat, 27 May 2023 09:33:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438306 The Appellate Tribunal dismissed the Revenue's appeal, upholding the deletion of the addition of on-money receipts in the income of the assessee firm for Assessment Year 2015-2016. The Tribunal found the Assessing Officer's extrapolation of on-money receipts lacked substantial evidence and was based on unreliable material, leading to the conclusion that the addition was not justified. The decision was based on the lack of direct evidence for on-money transactions in the relevant assessment year and the unreliable nature of the evidence presented. Case-Laws Income Tax Tue, 07 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438306