https://www.taxtmi.com/caselaws?id=326394 The Tribunal upheld the addition of Rs. 200,82,00,000 as unexplained investment under section 69 of the Income Tax Act, dismissing the appellant's challenge due to lack of evidence on the investment source. Additionally, the Tribunal affirmed the penalty of Rs. 72,93,844 imposed under section 271(1)(c) for failure to explain the investment source. The appellant's appeals were dismissed based on insufficient evidence and failure to provide a satisfactory explanation, leading to the confirmation of both the investment addition and penalty. en-us Fri, 04 Mar 2016 00:00:00 +0530 Fri, 13 May 2016 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326394 The Tribunal upheld the addition of Rs. 200,82,00,000 as unexplained investment under section 69 of the Income Tax Act, dismissing the appellant's challenge due to lack of evidence on the investment source. Additionally, the Tribunal affirmed the penalty of Rs. 72,93,844 imposed under section 271(1)(c) for failure to explain the investment source. The appellant's appeals were dismissed based on insufficient evidence and failure to provide a satisfactory explanation, leading to the confirmation of both the investment addition and penalty. Case-Laws Income Tax Fri, 04 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326394