https://www.taxtmi.com/caselaws?id=329406 The Tribunal allowed the assessee's appeal against the addition of Rs. 8,50,000 under Section 69A of the Income Tax Act, 1961. The Tribunal found that the assessee provided a credible explanation supported by documentary evidence and a third party, while the revenue failed to disprove these facts with tangible material, relying on suspicion. The addition was deleted, emphasizing that suspicion and doubt cannot replace relevant facts in tax assessments. en-us Fri, 29 Apr 2016 00:00:00 +0530 Fri, 01 Jul 2016 12:43:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329406 The Tribunal allowed the assessee's appeal against the addition of Rs. 8,50,000 under Section 69A of the Income Tax Act, 1961. The Tribunal found that the assessee provided a credible explanation supported by documentary evidence and a third party, while the revenue failed to disprove these facts with tangible material, relying on suspicion. The addition was deleted, emphasizing that suspicion and doubt cannot replace relevant facts in tax assessments. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329406