https://www.taxtmi.com/caselaws?id=61161 The Tribunal allowed the appeal in full, ruling in favor of the assessee. The addition of Rs. 40,728 to the total income was deleted due to lack of concrete evidence supporting the suspicion raised by the ITO. The Tribunal emphasized that suspicion alone cannot replace evidence. Additionally, the Rs. 8,753 loss was deemed a loss in the ordinary course of business, following precedent that a loss from a single transaction does not constitute speculative business. en-us Thu, 15 Apr 1982 00:00:00 +0530 Tue, 11 Jan 2011 11:38:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61161 The Tribunal allowed the appeal in full, ruling in favor of the assessee. The addition of Rs. 40,728 to the total income was deleted due to lack of concrete evidence supporting the suspicion raised by the ITO. The Tribunal emphasized that suspicion alone cannot replace evidence. Additionally, the Rs. 8,753 loss was deemed a loss in the ordinary course of business, following precedent that a loss from a single transaction does not constitute speculative business. Case-Laws Income Tax Thu, 15 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61161