https://www.taxtmi.com/caselaws?id=264071 The court affirmed the CIT(A)'s decision to delete the addition of Rs. 9,39,61,200 made under section 69B of the Income Tax Act. The Revenue's appeal against the deletion was dismissed as the Assessing Officer failed to provide sufficient evidence to prove understatement of consideration for the property purchase. The court found that the valuation reports and other factors relied upon by the Revenue were insufficient to support the addition under section 69B, ultimately upholding the CIT(A)'s ruling. en-us Wed, 19 Aug 2015 00:00:00 +0530 Thu, 17 Sep 2015 08:03:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264071 The court affirmed the CIT(A)'s decision to delete the addition of Rs. 9,39,61,200 made under section 69B of the Income Tax Act. The Revenue's appeal against the deletion was dismissed as the Assessing Officer failed to provide sufficient evidence to prove understatement of consideration for the property purchase. The court found that the valuation reports and other factors relied upon by the Revenue were insufficient to support the addition under section 69B, ultimately upholding the CIT(A)'s ruling. Case-Laws Income Tax Wed, 19 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264071