https://www.taxtmi.com/caselaws?id=174516 The Tribunal upheld the deletion of the addition of Rs. 2,81,83,000/- made under section 69B read with section 142A of the Income-tax Act, 1961. The ld. CIT(Appeals) and Tribunal found that the AO lacked sufficient evidence to prove understatement of purchase consideration, as required by section 69B. The Tribunal also supported the decision to delete the addition, emphasizing the necessity of evidence in invoking section 69B. en-us Wed, 30 Nov 2011 00:00:00 +0530 Fri, 09 Oct 2015 13:00:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174516 The Tribunal upheld the deletion of the addition of Rs. 2,81,83,000/- made under section 69B read with section 142A of the Income-tax Act, 1961. The ld. CIT(Appeals) and Tribunal found that the AO lacked sufficient evidence to prove understatement of purchase consideration, as required by section 69B. The Tribunal also supported the decision to delete the addition, emphasizing the necessity of evidence in invoking section 69B. Case-Laws Income Tax Wed, 30 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174516