https://www.taxtmi.com/caselaws?id=335764 The court upheld the decision of the Commissioner and the Tribunal, dismissing the appeal in favor of the assessee. The undisclosed income of Rs. 43,63,821 for unexplained investment in land was deleted by the CIT (A) based on bank account details and the inability to produce required documents due to their age. The ITAT found that the assessee had adequately shown the source of funds for the land investment from M/s City Developers Pvt. Ltd., Kolkata, and confirmed the genuineness of the transaction, leading to the dismissal of the department's appeal. en-us Wed, 23 Nov 2016 00:00:00 +0530 Thu, 08 Dec 2016 21:53:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335764 The court upheld the decision of the Commissioner and the Tribunal, dismissing the appeal in favor of the assessee. The undisclosed income of Rs. 43,63,821 for unexplained investment in land was deleted by the CIT (A) based on bank account details and the inability to produce required documents due to their age. The ITAT found that the assessee had adequately shown the source of funds for the land investment from M/s City Developers Pvt. Ltd., Kolkata, and confirmed the genuineness of the transaction, leading to the dismissal of the department's appeal. Case-Laws Income Tax Wed, 23 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335764