https://www.taxtmi.com/caselaws?id=443601 The Tribunal allowed the appeal, directing deletion of all contested additions under Section 68 of the Income Tax Act. It emphasized the necessity of corroborative evidence to sustain additions based on retracted statements, highlighting that mere surmises and conjectures without concrete evidence cannot justify such additions. The Tribunal specifically noted inconsistencies in the Department's approach regarding the taxability of the same income in different assessment years, leading to the decision to delete the additions. en-us Tue, 26 Sep 2023 00:00:00 +0530 Thu, 28 Sep 2023 08:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443601 The Tribunal allowed the appeal, directing deletion of all contested additions under Section 68 of the Income Tax Act. It emphasized the necessity of corroborative evidence to sustain additions based on retracted statements, highlighting that mere surmises and conjectures without concrete evidence cannot justify such additions. The Tribunal specifically noted inconsistencies in the Department's approach regarding the taxability of the same income in different assessment years, leading to the decision to delete the additions. Case-Laws Income Tax Tue, 26 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443601