https://www.taxtmi.com/caselaws?id=751269 Protective addition based on alleged over-invoicing of purchases was unsustainable where the foundation was a retracted statement, the cash found with the maker was assessed as his own undisclosed income, and the purchase references were linked to another concern rather than the assessee. The Revenue also failed to produce reliable corroborative evidence showing excess payment, cash flow-back, or the assessee's involvement, and the price-comparison exercise was found flawed and unsupported by tangible material. On these facts, the protective addition in the assessee's hands could not survive. en-us Mon, 08 Apr 2024 00:00:00 +0530 Fri, 12 Apr 2024 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751269 Protective addition based on alleged over-invoicing of purchases was unsustainable where the foundation was a retracted statement, the cash found with the maker was assessed as his own undisclosed income, and the purchase references were linked to another concern rather than the assessee. The Revenue also failed to produce reliable corroborative evidence showing excess payment, cash flow-back, or the assessee's involvement, and the price-comparison exercise was found flawed and unsupported by tangible material. On these facts, the protective addition in the assessee's hands could not survive. Case-Laws Income Tax Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751269