https://www.taxtmi.com/caselaws?id=214197 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs.14,88,972/- on account of professional receipts, citing lack of evidence of suppression. Additionally, the Tribunal confirmed the CIT(A)'s decision to add Rs.6,39,019/- and Rs.29,00,000/- for A.Yr.2005-06 and A.Yr.2006-07, respectively, for investments in Mutual Funds due to unexplained sources. The Tribunal dismissed the assessee's appeal challenging the jurisdiction of the Assessing Officer's notice under section 147, emphasizing the need to substantiate income and investments to avoid additions under the Income Tax Act. Both parties' appeals were dismissed. en-us Fri, 24 Feb 2012 00:00:00 +0530 Thu, 21 Jun 2012 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214197 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs.14,88,972/- on account of professional receipts, citing lack of evidence of suppression. Additionally, the Tribunal confirmed the CIT(A)'s decision to add Rs.6,39,019/- and Rs.29,00,000/- for A.Yr.2005-06 and A.Yr.2006-07, respectively, for investments in Mutual Funds due to unexplained sources. The Tribunal dismissed the assessee's appeal challenging the jurisdiction of the Assessing Officer's notice under section 147, emphasizing the need to substantiate income and investments to avoid additions under the Income Tax Act. Both parties' appeals were dismissed. Case-Laws Income Tax Fri, 24 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214197