https://www.taxtmi.com/caselaws?id=356274 The Tribunal allowed the appeals by the Assessees, directing the deletion of additions made under section 69 of the Income Tax Act. The Tribunal found that the investments in jewellery were genuine, supported by evidence of payments through cheques and properly reflected in the Assessees' books of accounts. As the sources of investment were adequately explained, the provisions of section 69 did not apply. The Tribunal ruled in favor of the Assessees, holding that the additions made by the AO and confirmed by the CIT(A) were not sustainable. en-us Wed, 03 Jan 2018 00:00:00 +0530 Wed, 28 Feb 2018 06:31:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356274 The Tribunal allowed the appeals by the Assessees, directing the deletion of additions made under section 69 of the Income Tax Act. The Tribunal found that the investments in jewellery were genuine, supported by evidence of payments through cheques and properly reflected in the Assessees' books of accounts. As the sources of investment were adequately explained, the provisions of section 69 did not apply. The Tribunal ruled in favor of the Assessees, holding that the additions made by the AO and confirmed by the CIT(A) were not sustainable. Case-Laws Income Tax Wed, 03 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356274