https://www.taxtmi.com/caselaws?id=335144 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition of Rs. 30,55,000 on account of alleged unexplained investment in a co-owned flat. The Tribunal found that the on-money for the flat was funded by a third party, M/s. Ashoka Buildcon Ltd., and shared between the assessee and the co-owner. Emphasizing the lack of evidence contradicting the disclosed source of funds, the Tribunal ruled in favor of the assessee, highlighting discrepancies in the seized document and the admission of on-money payment by an employee. en-us Fri, 30 Sep 2016 00:00:00 +0530 Sat, 26 Nov 2016 10:32:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335144 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition of Rs. 30,55,000 on account of alleged unexplained investment in a co-owned flat. The Tribunal found that the on-money for the flat was funded by a third party, M/s. Ashoka Buildcon Ltd., and shared between the assessee and the co-owner. Emphasizing the lack of evidence contradicting the disclosed source of funds, the Tribunal ruled in favor of the assessee, highlighting discrepancies in the seized document and the admission of on-money payment by an employee. Case-Laws Income Tax Fri, 30 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335144