https://www.taxtmi.com/caselaws?id=340074 The Tribunal overturned the Commissioner of Income Tax (Appeals)' decision to partially uphold the addition of undisclosed income from investments in mutual funds made by the appellant's relatives. The Tribunal ruled that the addition was not sustainable based on conjecture, emphasizing that the appellant's role in the investments was not conclusively established. The appellant successfully argued that the investments were made by relatives and that he was only a second holder for safety purposes. The Tribunal allowed the appeal, concluding that the addition could not be upheld solely on the possibility of undisclosed funds being used for the investments. en-us Fri, 03 Mar 2017 00:00:00 +0530 Wed, 15 Mar 2017 12:13:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340074 The Tribunal overturned the Commissioner of Income Tax (Appeals)' decision to partially uphold the addition of undisclosed income from investments in mutual funds made by the appellant's relatives. The Tribunal ruled that the addition was not sustainable based on conjecture, emphasizing that the appellant's role in the investments was not conclusively established. The appellant successfully argued that the investments were made by relatives and that he was only a second holder for safety purposes. The Tribunal allowed the appeal, concluding that the addition could not be upheld solely on the possibility of undisclosed funds being used for the investments. Case-Laws Income Tax Fri, 03 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340074