https://www.taxtmi.com/caselaws?id=345579 The Tribunal remanded the case back to the Assessing Officer for further investigation due to inadequacy in the assessee's explanation regarding unproved cash deposits and advances for property purchase. The Commissioner of Income Tax (Appeals) was criticized for accepting the explanation without proper verification. The burden of proof lies on the assessee to establish the legitimacy of the transactions, with the Tribunal emphasizing the need for concrete evidence to support claims. The case outcome focused on directing a detailed examination of the source of funds, granting the assessee an opportunity to provide additional evidence for a fair assessment process. en-us Thu, 30 Mar 2017 00:00:00 +0530 Fri, 21 Jul 2017 08:45:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345579 The Tribunal remanded the case back to the Assessing Officer for further investigation due to inadequacy in the assessee's explanation regarding unproved cash deposits and advances for property purchase. The Commissioner of Income Tax (Appeals) was criticized for accepting the explanation without proper verification. The burden of proof lies on the assessee to establish the legitimacy of the transactions, with the Tribunal emphasizing the need for concrete evidence to support claims. The case outcome focused on directing a detailed examination of the source of funds, granting the assessee an opportunity to provide additional evidence for a fair assessment process. Case-Laws Income Tax Thu, 30 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345579