https://www.taxtmi.com/caselaws?id=334518 The ITAT Hyderabad partially allowed the assessee's appeal, disagreeing with the AO's disallowance of credit purchases from M/s. Shagun Jewellers and loans received from family members and Mahesh Bank. The ITAT found the doubts raised by the AO to be unsubstantiated and unsustainable, deeming the additions unwarranted. However, the ITAT upheld the addition of Rs. 3,50,000 as unexplained investment in the house due to lack of proper documentation. The judgment was pronounced on 21st October 2016. en-us Fri, 21 Oct 2016 00:00:00 +0530 Tue, 15 Nov 2016 17:57:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334518 The ITAT Hyderabad partially allowed the assessee's appeal, disagreeing with the AO's disallowance of credit purchases from M/s. Shagun Jewellers and loans received from family members and Mahesh Bank. The ITAT found the doubts raised by the AO to be unsubstantiated and unsustainable, deeming the additions unwarranted. However, the ITAT upheld the addition of Rs. 3,50,000 as unexplained investment in the house due to lack of proper documentation. The judgment was pronounced on 21st October 2016. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334518