https://www.taxtmi.com/caselaws?id=216444 The addition made under Section 69B of the Income Tax Act was deleted as the Assessing Officer failed to provide concrete evidence to support the claim of undisclosed investment in land. The explanation by the assessee regarding the seized documents, interpreting the figures as related to joint venture negotiations rather than actual costs, was deemed plausible. The Tribunal upheld the deletion of the addition, finding the Revenue's burden of proof unmet and dismissing the department's appeal while deeming the assessee's cross-objection infructuous. en-us Fri, 22 Jun 2012 00:00:00 +0530 Thu, 30 Aug 2012 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216444 The addition made under Section 69B of the Income Tax Act was deleted as the Assessing Officer failed to provide concrete evidence to support the claim of undisclosed investment in land. The explanation by the assessee regarding the seized documents, interpreting the figures as related to joint venture negotiations rather than actual costs, was deemed plausible. The Tribunal upheld the deletion of the addition, finding the Revenue's burden of proof unmet and dismissing the department's appeal while deeming the assessee's cross-objection infructuous. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216444