https://www.taxtmi.com/caselaws?id=250206 The ITAT allowed both appeals, overturning the additions made by the AO for undisclosed payment for Boricha Land in the assessment year 2005-06 and unexplained expenditure in the assessment year 2007-08. The ITAT found that the evidence presented did not conclusively prove the alleged undisclosed payments and highlighted that the disputed amounts were accounted for through legitimate means. Consequently, the added amounts of Rs. 20 lakhs and Rs. 51 lakhs were deleted in favor of the assessee. en-us Wed, 23 Jul 2014 00:00:00 +0530 Wed, 06 Aug 2014 08:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250206 The ITAT allowed both appeals, overturning the additions made by the AO for undisclosed payment for Boricha Land in the assessment year 2005-06 and unexplained expenditure in the assessment year 2007-08. The ITAT found that the evidence presented did not conclusively prove the alleged undisclosed payments and highlighted that the disputed amounts were accounted for through legitimate means. Consequently, the added amounts of Rs. 20 lakhs and Rs. 51 lakhs were deleted in favor of the assessee. Case-Laws Income Tax Wed, 23 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250206