https://www.taxtmi.com/caselaws?id=121208 Additions for alleged unexplained investment in properties could not be sustained where they rested only on estimated fair market value or rent-capitalisation assumptions, and no incriminating material showed payment over the registered sale consideration; the burden remained on the Revenue, so the property additions were deleted. Gifts received by the assessee and family members were treated as non-genuine because the donors were merely neighbours and the record did not establish natural reciprocity or convincing capacity, so those additions were upheld. For interest under section 234B, the Tribunal applied the view that computation should run from the relevant assessment order sequence, and the directed recomputation was maintained. en-us Wed, 30 Sep 2009 00:00:00 +0530 Mon, 09 Oct 2023 18:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121208 Additions for alleged unexplained investment in properties could not be sustained where they rested only on estimated fair market value or rent-capitalisation assumptions, and no incriminating material showed payment over the registered sale consideration; the burden remained on the Revenue, so the property additions were deleted. Gifts received by the assessee and family members were treated as non-genuine because the donors were merely neighbours and the record did not establish natural reciprocity or convincing capacity, so those additions were upheld. For interest under section 234B, the Tribunal applied the view that computation should run from the relevant assessment order sequence, and the directed recomputation was maintained. Case-Laws Income Tax Wed, 30 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121208