https://www.taxtmi.com/caselaws?id=313899 ITAT Jaipur dismissed revenue's appeal and allowed assessee's appeal. Addition u/s 153A was deleted as AO incorrectly made addition based on material seized from third party's premises without following s. 153C provisions. No material was found in assessee's possession. Addition u/s 68 was also wrongly made. Regarding long-term capital gain addition based on on-money payment, ITAT upheld CIT(A)'s deletion as the statement giver retracted his statement, assessee denied receiving on-money, and no supporting documents were found. Revenue's appeal dismissed. en-us Wed, 15 Jun 2022 00:00:00 +0530 Tue, 07 May 2024 23:06:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313899 ITAT Jaipur dismissed revenue's appeal and allowed assessee's appeal. Addition u/s 153A was deleted as AO incorrectly made addition based on material seized from third party's premises without following s. 153C provisions. No material was found in assessee's possession. Addition u/s 68 was also wrongly made. Regarding long-term capital gain addition based on on-money payment, ITAT upheld CIT(A)'s deletion as the statement giver retracted his statement, assessee denied receiving on-money, and no supporting documents were found. Revenue's appeal dismissed. Case-Laws Income Tax Wed, 15 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313899