Tax Tribunal Deletes AO's Additions for Lack of Evidence; Cites Supreme Court Precedent in Abhisar Buildwell Case.

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....Validity of Assessment u/s 153A - This absence of incriminating material played a pivotal role in the decision. Citing the precedent established by the Hon’ble Supreme Court in the case of PCIT vs. Abhisar Buildwell Pvt. Ltd., the Tax Tribunal held that the additions made by the AO, which had been subsequently confirmed by the Ld. CIT(A), were to be deleted due to their lack of foundation in incriminating evidence.....