https://www.taxtmi.com/caselaws?id=176455 ITAT held that additions for unexplained investment based solely on third-party statements, without affording the assessee an opportunity to controvert or cross-examine, were unsustainable. The tribunal reaffirmed that the revenue bears the burden of proving undisclosed income with corroborative material and that the AO has discretion before treating unexplained investment as income. Finding no adverse material or specific infirmity in the assessment, the tribunal dismissed the revenue's appeals and upheld the impugned order. en-us Mon, 17 Mar 2008 00:00:00 +0530 Wed, 19 Nov 2025 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176455 ITAT held that additions for unexplained investment based solely on third-party statements, without affording the assessee an opportunity to controvert or cross-examine, were unsustainable. The tribunal reaffirmed that the revenue bears the burden of proving undisclosed income with corroborative material and that the AO has discretion before treating unexplained investment as income. Finding no adverse material or specific infirmity in the assessment, the tribunal dismissed the revenue's appeals and upheld the impugned order. Case-Laws Income Tax Mon, 17 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176455