https://www.taxtmi.com/caselaws?id=269983 The Tribunal's decision to delete the addition of unexplained investments under Section 69 of the Income Tax Act was upheld by the High Court. The revenue failed to provide reliable evidence, leading to the deletion of a significant portion of the addition. The Court found discrepancies in the statements made under Section 132(4) and emphasized the lack of material evidence to support the revenue's claims. Ultimately, the appeals were dismissed, affirming the Tribunal's order based on the evidence on record and the failure of the revenue to meet the burden of proof. en-us Fri, 06 Nov 2015 00:00:00 +0530 Fri, 25 Dec 2015 12:31:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269983 The Tribunal's decision to delete the addition of unexplained investments under Section 69 of the Income Tax Act was upheld by the High Court. The revenue failed to provide reliable evidence, leading to the deletion of a significant portion of the addition. The Court found discrepancies in the statements made under Section 132(4) and emphasized the lack of material evidence to support the revenue's claims. Ultimately, the appeals were dismissed, affirming the Tribunal's order based on the evidence on record and the failure of the revenue to meet the burden of proof. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269983