https://www.taxtmi.com/caselaws?id=176653 The Income-tax Appellate Tribunal dismissed the appeal by the assessee-company, upholding the addition of Rs. 39 lakhs to the declared property purchase amount. The Assessing Officer and Commissioner of Income-tax (Appeals) confirmed the addition due to the vendor's statement and lack of evidence from the assessee. The Tribunal found that the assessee was given adequate opportunity for cross-examination and document production, and the appeal did not present a substantial question of law under section 260A of the Income-tax Act. Consequently, the appeal was dismissed, affirming the lower authorities' decisions. en-us Thu, 19 Apr 2007 00:00:00 +0530 Thu, 15 Feb 2024 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176653 The Income-tax Appellate Tribunal dismissed the appeal by the assessee-company, upholding the addition of Rs. 39 lakhs to the declared property purchase amount. The Assessing Officer and Commissioner of Income-tax (Appeals) confirmed the addition due to the vendor's statement and lack of evidence from the assessee. The Tribunal found that the assessee was given adequate opportunity for cross-examination and document production, and the appeal did not present a substantial question of law under section 260A of the Income-tax Act. Consequently, the appeal was dismissed, affirming the lower authorities' decisions. Case-Laws Income Tax Thu, 19 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176653