https://www.taxtmi.com/caselaws?id=251090 The Tribunal invalidated the CIT(A)'s order due to procedural irregularities, lack of transparency, and misrecording of facts by the AO. The issues were remanded for a de novo assessment. The addition of Rs. 1,66,05,000 as unexplained income under Section 68 was deemed unjustified as the AO failed to consider the evidence provided by the assessee. The inclusion of sale proceeds under Section 68 was to be re-examined, and the chargeability of interest under Section 234B was to be reassessed based on a fair evaluation. The appeal favored the assessee for further verification of facts. en-us Fri, 11 Apr 2014 00:00:00 +0530 Thu, 04 Sep 2014 08:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251090 The Tribunal invalidated the CIT(A)'s order due to procedural irregularities, lack of transparency, and misrecording of facts by the AO. The issues were remanded for a de novo assessment. The addition of Rs. 1,66,05,000 as unexplained income under Section 68 was deemed unjustified as the AO failed to consider the evidence provided by the assessee. The inclusion of sale proceeds under Section 68 was to be re-examined, and the chargeability of interest under Section 234B was to be reassessed based on a fair evaluation. The appeal favored the assessee for further verification of facts. Case-Laws Income Tax Fri, 11 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251090