https://www.taxtmi.com/caselaws?id=274357 The court upheld the decision of the Appellate Tribunal in dismissing the Revenue's appeal regarding the deletion of additions made on account of unexplained investment in properties and under section 2(22)(e). The Tribunal's findings emphasized the lack of concrete evidence to support the Revenue's claims, indicating that the figures in the recovered diaries did not necessarily represent cash transactions. The court affirmed that factual findings and substantial evidence are crucial in tax assessments to prevent arbitrary inclusions or exclusions based on incomplete information or assumptions. en-us Mon, 09 Oct 2017 00:00:00 +0530 Thu, 09 Aug 2018 21:49:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274357 The court upheld the decision of the Appellate Tribunal in dismissing the Revenue's appeal regarding the deletion of additions made on account of unexplained investment in properties and under section 2(22)(e). The Tribunal's findings emphasized the lack of concrete evidence to support the Revenue's claims, indicating that the figures in the recovered diaries did not necessarily represent cash transactions. The court affirmed that factual findings and substantial evidence are crucial in tax assessments to prevent arbitrary inclusions or exclusions based on incomplete information or assumptions. Case-Laws Income Tax Mon, 09 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274357