https://www.taxtmi.com/caselaws?id=349996 The Tribunal upheld the Commissioner (Appeals)' decision in both issues, dismissing the revenue's appeal. It emphasized the need to substantiate transactions and the principle of taxing only real income under the Income Tax Act. The revenue's contentions regarding unexplained expenditure on bogus purchases and disallowance on account of the difference in Transfer of Development Right were not accepted, with the Tribunal citing precedents and the necessity to prevent revenue leakage. en-us Wed, 18 Oct 2017 00:00:00 +0530 Sat, 28 Oct 2017 08:18:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349996 The Tribunal upheld the Commissioner (Appeals)' decision in both issues, dismissing the revenue's appeal. It emphasized the need to substantiate transactions and the principle of taxing only real income under the Income Tax Act. The revenue's contentions regarding unexplained expenditure on bogus purchases and disallowance on account of the difference in Transfer of Development Right were not accepted, with the Tribunal citing precedents and the necessity to prevent revenue leakage. Case-Laws Income Tax Wed, 18 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349996