https://www.taxtmi.com/caselaws?id=187664 The Tribunal concluded that the addition of Rs. 2.50 crores as unexplained income under Section 68 of the Income Tax Act could not be sustained. The Tribunal found that the share applicants were identified, transactions were through banking channels, and the burden shifted to the Revenue to prove the investment was the assessee's own money. Consequently, the Tribunal ordered the deletion of the entire addition, allowing the appeal of the assessee. The final order was pronounced on 24-01-2014. en-us Fri, 24 Jan 2014 00:00:00 +0530 Tue, 01 Nov 2016 18:37:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187664 The Tribunal concluded that the addition of Rs. 2.50 crores as unexplained income under Section 68 of the Income Tax Act could not be sustained. The Tribunal found that the share applicants were identified, transactions were through banking channels, and the burden shifted to the Revenue to prove the investment was the assessee's own money. Consequently, the Tribunal ordered the deletion of the entire addition, allowing the appeal of the assessee. The final order was pronounced on 24-01-2014. Case-Laws Income Tax Fri, 24 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187664