https://www.taxtmi.com/caselaws?id=208970 An assessee's own admission in an FIR that money was paid for investment in agricultural land can be relevant evidence for treating the amount as unexplained investment under Section 69 of the Income-tax Act, 1961. Where the assessee fails to give a satisfactory explanation of the source and nature of the payment, or to support the claim with accounting evidence, the apparent admission is not displaced. The Revenue is not required to first prove the truth of the FIR version before Section 69 can be applied. The Tribunal and first appellate authority were said to have erred in insisting on such proof, and the matter was remanded for fresh consideration in accordance with law. en-us Tue, 29 Mar 2011 00:00:00 +0530 Sat, 03 Aug 2013 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208970 An assessee's own admission in an FIR that money was paid for investment in agricultural land can be relevant evidence for treating the amount as unexplained investment under Section 69 of the Income-tax Act, 1961. Where the assessee fails to give a satisfactory explanation of the source and nature of the payment, or to support the claim with accounting evidence, the apparent admission is not displaced. The Revenue is not required to first prove the truth of the FIR version before Section 69 can be applied. The Tribunal and first appellate authority were said to have erred in insisting on such proof, and the matter was remanded for fresh consideration in accordance with law. Case-Laws Income Tax Tue, 29 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208970