https://www.taxtmi.com/caselaws?id=442579 The Tribunal ruled in favor of the Assessee, deleting the additions made based on loose papers found during a search. The Tribunal emphasized the importance of corroborative evidence and adherence to principles of natural justice, highlighting that entries in loose papers must be supported by independent evidence to be used against the Assessee. The Tribunal also noted the Assessee's successful rebuttal of the presumptions under sections 132(4A) and 292C, ultimately allowing the appeals and overturning the additions for the respective assessment years. en-us Tue, 11 Apr 2023 00:00:00 +0530 Mon, 04 Sep 2023 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442579 The Tribunal ruled in favor of the Assessee, deleting the additions made based on loose papers found during a search. The Tribunal emphasized the importance of corroborative evidence and adherence to principles of natural justice, highlighting that entries in loose papers must be supported by independent evidence to be used against the Assessee. The Tribunal also noted the Assessee's successful rebuttal of the presumptions under sections 132(4A) and 292C, ultimately allowing the appeals and overturning the additions for the respective assessment years. Case-Laws Income Tax Tue, 11 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442579