https://www.taxtmi.com/caselaws?id=264727 The Income Tax Appellate Tribunal (ITAT) upheld the addition of unexplained cash found during a survey due to lack of substantiated sources of funds. The ITAT also confirmed the addition of unexplained withdrawals from firm accounts as the assessee failed to provide evidence. Regarding the claim of exemption under section 10(37) for capital gains on the sale of agricultural land, the ITAT directed a re-examination by the Assessing Officer (A.O.) to determine eligibility based on evidence provided by the assessee. The ITAT stressed the necessity of supporting claims with evidence in tax matters. en-us Fri, 07 Nov 2014 00:00:00 +0530 Thu, 01 Oct 2015 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264727 The Income Tax Appellate Tribunal (ITAT) upheld the addition of unexplained cash found during a survey due to lack of substantiated sources of funds. The ITAT also confirmed the addition of unexplained withdrawals from firm accounts as the assessee failed to provide evidence. Regarding the claim of exemption under section 10(37) for capital gains on the sale of agricultural land, the ITAT directed a re-examination by the Assessing Officer (A.O.) to determine eligibility based on evidence provided by the assessee. The ITAT stressed the necessity of supporting claims with evidence in tax matters. Case-Laws Income Tax Fri, 07 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264727