https://www.taxtmi.com/caselaws?id=350050 The addition of Rs. 8,38,25,960/- made by the Assessing Officer on account of unexplained unaccounted investment was deleted by the CIT(A)-XXXI, New Delhi. The Revenue's appeal against this deletion was dismissed by the Tribunal, which upheld the CIT(A)'s decision. The Tribunal found that the diamonds in question belonged to the companies managed by the assessee, which had filed returns of income with audited accounts. The Tribunal concluded that there was no evidence to support the claim that the seized diamonds represented the assessee's unaccounted investment. en-us Wed, 25 Oct 2017 00:00:00 +0530 Mon, 30 Oct 2017 08:32:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350050 The addition of Rs. 8,38,25,960/- made by the Assessing Officer on account of unexplained unaccounted investment was deleted by the CIT(A)-XXXI, New Delhi. The Revenue's appeal against this deletion was dismissed by the Tribunal, which upheld the CIT(A)'s decision. The Tribunal found that the diamonds in question belonged to the companies managed by the assessee, which had filed returns of income with audited accounts. The Tribunal concluded that there was no evidence to support the claim that the seized diamonds represented the assessee's unaccounted investment. Case-Laws Income Tax Wed, 25 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350050