https://www.taxtmi.com/caselaws?id=308835 The Tribunal found that the additions made by the AO for AY 2012-13, totaling Rs. 490.54 Lacs u/s 69B and Rs. 131.33 Lacs u/s 69A, lacked corroborative evidence and were based on suspicion rather than tangible material. As a result, these additions were deleted. Similarly, for AY 2011-12, the additions for interest and commission were deemed unjustified as they were solely based on extrapolation without concrete incriminating evidence. Therefore, both appeals were allowed, and the additions were removed. The decision was rendered on 14th February 2022. en-us Mon, 14 Feb 2022 00:00:00 +0530 Wed, 26 Jul 2023 21:09:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308835 The Tribunal found that the additions made by the AO for AY 2012-13, totaling Rs. 490.54 Lacs u/s 69B and Rs. 131.33 Lacs u/s 69A, lacked corroborative evidence and were based on suspicion rather than tangible material. As a result, these additions were deleted. Similarly, for AY 2011-12, the additions for interest and commission were deemed unjustified as they were solely based on extrapolation without concrete incriminating evidence. Therefore, both appeals were allowed, and the additions were removed. The decision was rendered on 14th February 2022. Case-Laws Income Tax Mon, 14 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308835