https://www.taxtmi.com/caselaws?id=449306 The Tribunal dismissed the Revenue's appeals challenging the CIT(A)'s deletion of additions related to share application money and commission expenses. It concluded that the additions were unjustified as they lacked incriminating material from search operations. The Tribunal relied on precedents from the Hon'ble Jurisdictional HC and the Apex Court, emphasizing that assessments can only be altered based on new incriminating evidence. The Tribunal upheld the CIT(A)'s order, noting that the additions were based on previously disclosed book entries, and no pending assessments existed at the time of the search. The decision was pronounced on 06/02/2024. en-us Tue, 06 Feb 2024 00:00:00 +0530 Fri, 09 Feb 2024 07:21:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449306 The Tribunal dismissed the Revenue's appeals challenging the CIT(A)'s deletion of additions related to share application money and commission expenses. It concluded that the additions were unjustified as they lacked incriminating material from search operations. The Tribunal relied on precedents from the Hon'ble Jurisdictional HC and the Apex Court, emphasizing that assessments can only be altered based on new incriminating evidence. The Tribunal upheld the CIT(A)'s order, noting that the additions were based on previously disclosed book entries, and no pending assessments existed at the time of the search. The decision was pronounced on 06/02/2024. Case-Laws Income Tax Tue, 06 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449306