https://www.taxtmi.com/caselaws?id=775420 The ITAT Chandigarh upheld the deletion of additions made u/s 68 regarding foreign remittances, emphasizing the absence of independent investigation or corroborative evidence by the AO. The tribunal affirmed that additions cannot be based on presumptions or surmises. Reliance on findings from customs authorities, which were set aside on appeal, was insufficient. The AO failed to examine key witnesses or allow cross-examination, undermining the revenue's case. The tribunal's findings were supported by valid evidence and constituted a factual determination not warranting interference. The HC found no error in the ITAT's order, confirming the relief granted to the assessee. en-us Tue, 01 Jul 2025 00:00:00 +0530 Fri, 25 Jul 2025 08:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775420 The ITAT Chandigarh upheld the deletion of additions made u/s 68 regarding foreign remittances, emphasizing the absence of independent investigation or corroborative evidence by the AO. The tribunal affirmed that additions cannot be based on presumptions or surmises. Reliance on findings from customs authorities, which were set aside on appeal, was insufficient. The AO failed to examine key witnesses or allow cross-examination, undermining the revenue's case. The tribunal's findings were supported by valid evidence and constituted a factual determination not warranting interference. The HC found no error in the ITAT's order, confirming the relief granted to the assessee. Case-Laws Income Tax Tue, 01 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775420