https://www.taxtmi.com/caselaws?id=242627 An addition as unexplained investment in a flat under section 69 was deleted because the flat was allotted against surrender of tenancy rights, prior transfer of tenancy rights for consideration was on record, and no positive material showed unexplained income; mere suspicion or inadequate consideration was insufficient. The unexplained cash credit addition under section 68 was set aside for fresh examination because the assessee had offered an explanation, but reconciliation and supporting records required fuller verification. The assessee obtained partial relief, with the investment issue decided in its favour and the cash-credit matter remitted for de novo consideration. en-us Wed, 12 Jun 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:44:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242627 An addition as unexplained investment in a flat under section 69 was deleted because the flat was allotted against surrender of tenancy rights, prior transfer of tenancy rights for consideration was on record, and no positive material showed unexplained income; mere suspicion or inadequate consideration was insufficient. The unexplained cash credit addition under section 68 was set aside for fresh examination because the assessee had offered an explanation, but reconciliation and supporting records required fuller verification. The assessee obtained partial relief, with the investment issue decided in its favour and the cash-credit matter remitted for de novo consideration. Case-Laws Income Tax Wed, 12 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242627