https://www.taxtmi.com/caselaws?id=13633 The High Court upheld the Tribunal's decision to add Rs. 10,00,000 as unexplained investment in shares, citing lack of evidence from the assessees. The burden of proof regarding no new investment in 1997-98 was on the assessees, who failed to provide necessary details. Additionally, credit card expenses and LIC premium payments were deemed personal in nature and added under section 2(24)(iv). The court affirmed the Tribunal's findings, dismissing the appeals due to the assessees' failure to counter the assessing authority's additions with substantial evidence. en-us Wed, 28 Feb 2007 00:00:00 +0530 Wed, 14 Oct 2015 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13633 The High Court upheld the Tribunal's decision to add Rs. 10,00,000 as unexplained investment in shares, citing lack of evidence from the assessees. The burden of proof regarding no new investment in 1997-98 was on the assessees, who failed to provide necessary details. Additionally, credit card expenses and LIC premium payments were deemed personal in nature and added under section 2(24)(iv). The court affirmed the Tribunal's findings, dismissing the appeals due to the assessees' failure to counter the assessing authority's additions with substantial evidence. Case-Laws Income Tax Wed, 28 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13633