https://www.taxtmi.com/caselaws?id=344778 The Tribunal's deletion of an addition under Section 69B was sustained because the Revenue's comparable sales were of commercial properties, while the property in question was a residential flat. The assessee's explanation that the flat had remained vacant for a long period, had an ill-reputed condition, and was subject to a municipal notice for illegal possession was accepted as plausible, with the sale agreement also on record. The reasoning proceeded on the basis that the initial burden rested on the Revenue and that the explanation had to be assessed objectively. On that appraisal, the addition was deleted. en-us Wed, 14 Jun 2017 00:00:00 +0530 Tue, 27 Jun 2017 15:53:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344778 The Tribunal's deletion of an addition under Section 69B was sustained because the Revenue's comparable sales were of commercial properties, while the property in question was a residential flat. The assessee's explanation that the flat had remained vacant for a long period, had an ill-reputed condition, and was subject to a municipal notice for illegal possession was accepted as plausible, with the sale agreement also on record. The reasoning proceeded on the basis that the initial burden rested on the Revenue and that the explanation had to be assessed objectively. On that appraisal, the addition was deleted. Case-Laws Income Tax Wed, 14 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344778