https://www.taxtmi.com/caselaws?id=3083 The High Court dismissed the appeal filed by the Revenue against the order of the Income Tax Appellate Tribunal, which had rejected the addition of Rs. 50 lakhs in the Assessee's hands as unexplained expenditure under Section 69 of the Income Tax Act. Insufficient evidence and lack of corroborative evidence for the alleged money transfer led to the rejection of the addition. The court emphasized the importance of corroborative evidence, rebuttal of presumptions under the Act, and the need for a clear connection between transactions. en-us Tue, 19 Feb 2008 00:00:00 +0530 Wed, 20 May 2026 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3083 The High Court dismissed the appeal filed by the Revenue against the order of the Income Tax Appellate Tribunal, which had rejected the addition of Rs. 50 lakhs in the Assessee's hands as unexplained expenditure under Section 69 of the Income Tax Act. Insufficient evidence and lack of corroborative evidence for the alleged money transfer led to the rejection of the addition. The court emphasized the importance of corroborative evidence, rebuttal of presumptions under the Act, and the need for a clear connection between transactions. Case-Laws Income Tax Tue, 19 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3083