https://www.taxtmi.com/caselaws?id=59152 The tribunal partly allowed the appeals, ruling in favor of the assessee on the levy of interest under section 217 and the addition of seized goods, while upholding the additions on account of low drawings for both assessment years. The tribunal emphasized the necessity of an independent finding by the Income-tax authorities regarding ownership for a valid addition under section 69A, directing the matter to be restored to the Assessing Officer for a fresh decision in accordance with the law. en-us Fri, 21 Feb 1992 00:00:00 +0530 Sat, 25 Dec 2010 12:52:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59152 The tribunal partly allowed the appeals, ruling in favor of the assessee on the levy of interest under section 217 and the addition of seized goods, while upholding the additions on account of low drawings for both assessment years. The tribunal emphasized the necessity of an independent finding by the Income-tax authorities regarding ownership for a valid addition under section 69A, directing the matter to be restored to the Assessing Officer for a fresh decision in accordance with the law. Case-Laws Income Tax Fri, 21 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59152