https://www.taxtmi.com/caselaws?id=331384 Section 69B addition for alleged understatement of the cost of imported machinery is unsustainable unless the Revenue proves that the assessee actually incurred investment or expenditure over and above the amount recorded in the books. The Tribunal found no reliable evidence that the assessee made the alleged extra payment; at most, the supplier's documents suggested a higher aggregate payment, and any excess was attributable to a third party outside the Indian tax net. Because the Revenue failed to discharge its burden of proving unrecorded investment by the assessee, the addition was rightly deleted in favour of the assessee. en-us Wed, 10 Aug 2016 00:00:00 +0530 Mon, 22 Aug 2016 12:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331384 Section 69B addition for alleged understatement of the cost of imported machinery is unsustainable unless the Revenue proves that the assessee actually incurred investment or expenditure over and above the amount recorded in the books. The Tribunal found no reliable evidence that the assessee made the alleged extra payment; at most, the supplier's documents suggested a higher aggregate payment, and any excess was attributable to a third party outside the Indian tax net. Because the Revenue failed to discharge its burden of proving unrecorded investment by the assessee, the addition was rightly deleted in favour of the assessee. Case-Laws Income Tax Wed, 10 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331384