https://www.taxtmi.com/caselaws?id=335857 The High Court upheld the decisions of the CIT-A and the tribunal regarding the unexplained investment of Rs. 58,01,339 and unexplained expenditure under section 69C of Rs. 1,28,670. The court found that the appellant had fulfilled its burden of proof by providing details and an affidavit, shifting the onus to the AO to investigate further. As the AO failed to provide evidence contradicting the appellant's claims, the court dismissed the appeal, concluding that there was no basis for the additions made by the AO. en-us Tue, 06 Dec 2016 00:00:00 +0530 Sun, 11 Dec 2016 23:50:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335857 The High Court upheld the decisions of the CIT-A and the tribunal regarding the unexplained investment of Rs. 58,01,339 and unexplained expenditure under section 69C of Rs. 1,28,670. The court found that the appellant had fulfilled its burden of proof by providing details and an affidavit, shifting the onus to the AO to investigate further. As the AO failed to provide evidence contradicting the appellant's claims, the court dismissed the appeal, concluding that there was no basis for the additions made by the AO. Case-Laws Income Tax Tue, 06 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335857