https://www.taxtmi.com/caselaws?id=261773 The Tribunal partially allowed the appeals of the assessees, Shri Vishnuprasad S. Agrawal and Shri Sureshchandra S. Agrawal, by deleting the additions made under Section 69B of the Income Tax Act, totaling Rs. 27,39,079/- and Rs. 32,20,512/- respectively. The Tribunal held that the stamp duty valuation alone was insufficient to prove unexplained investments, emphasizing the lack of additional evidence provided by the Assessing Officer. The disallowance of interest expenses was not pursued due to minimal amounts involved. The Revenue authorities were found to have misjudged the situation, leading to the Tribunal's decision in favor of the assessees. en-us Fri, 17 Jul 2015 00:00:00 +0530 Wed, 22 Jul 2015 06:37:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261773 The Tribunal partially allowed the appeals of the assessees, Shri Vishnuprasad S. Agrawal and Shri Sureshchandra S. Agrawal, by deleting the additions made under Section 69B of the Income Tax Act, totaling Rs. 27,39,079/- and Rs. 32,20,512/- respectively. The Tribunal held that the stamp duty valuation alone was insufficient to prove unexplained investments, emphasizing the lack of additional evidence provided by the Assessing Officer. The disallowance of interest expenses was not pursued due to minimal amounts involved. The Revenue authorities were found to have misjudged the situation, leading to the Tribunal's decision in favor of the assessees. Case-Laws Income Tax Fri, 17 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261773