https://www.taxtmi.com/caselaws?id=439856 The Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to delete the additions made on account of unsecured loans, on-money consideration, and other issues. The ITAT emphasized the requirement for incriminating material to support additions in assessments and held that statements recorded under section 132(4) without corroboration were insufficient grounds for additions. The ITAT dismissed the Revenue's cross appeals, ruling in favor of the assessee. en-us Wed, 28 Jun 2023 00:00:00 +0530 Mon, 09 Oct 2023 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439856 The Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to delete the additions made on account of unsecured loans, on-money consideration, and other issues. The ITAT emphasized the requirement for incriminating material to support additions in assessments and held that statements recorded under section 132(4) without corroboration were insufficient grounds for additions. The ITAT dismissed the Revenue's cross appeals, ruling in favor of the assessee. Case-Laws Income Tax Wed, 28 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439856