https://www.taxtmi.com/caselaws?id=335911 The Tribunal directed the AO to delete the addition of undisclosed investment based on the seller's statement as there was insufficient concrete evidence supporting the claim. The Tribunal emphasized the importance of documentary evidence over oral testimony and legal precedents in income tax assessments. The denial of liability to pay interest under sections 234A and 234B was briefly mentioned, with no significant impact on the overall decision. The Tribunal allowed the assessee's appeal and dismissed the revenue's appeal based on maintainability grounds per a CBDT Circular. en-us Fri, 25 Nov 2016 00:00:00 +0530 Fri, 09 Dec 2016 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335911 The Tribunal directed the AO to delete the addition of undisclosed investment based on the seller's statement as there was insufficient concrete evidence supporting the claim. The Tribunal emphasized the importance of documentary evidence over oral testimony and legal precedents in income tax assessments. The denial of liability to pay interest under sections 234A and 234B was briefly mentioned, with no significant impact on the overall decision. The Tribunal allowed the assessee's appeal and dismissed the revenue's appeal based on maintainability grounds per a CBDT Circular. Case-Laws Income Tax Fri, 25 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335911