https://www.taxtmi.com/caselaws?id=465810 Whether additions for alleged fraudulent gains could be sustained when criminal proceedings concerning the same alleged fraud were pending and no final findings existed was the dominant issue. The Tribunal held that, absent a conclusive determination by the competent criminal court identifying the culpable persons and quantifying the benefit accruing to each, no real accrual of income could be inferred and an estimated apportionment of amounts could not justify the addition. Consequently, the order of the CIT(A) was set aside and the matter was remanded with directions to await the criminal court's orders and thereafter decide all grounds on merits, including those unrelated to alleged fraudulent gains; the appeals were allowed for statistical purposes. en-us Mon, 27 Jan 2025 00:00:00 +0530 Fri, 09 Jan 2026 19:03:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465810 Whether additions for alleged fraudulent gains could be sustained when criminal proceedings concerning the same alleged fraud were pending and no final findings existed was the dominant issue. The Tribunal held that, absent a conclusive determination by the competent criminal court identifying the culpable persons and quantifying the benefit accruing to each, no real accrual of income could be inferred and an estimated apportionment of amounts could not justify the addition. Consequently, the order of the CIT(A) was set aside and the matter was remanded with directions to await the criminal court's orders and thereafter decide all grounds on merits, including those unrelated to alleged fraudulent gains; the appeals were allowed for statistical purposes. Case-Laws Income Tax Mon, 27 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465810