https://www.taxtmi.com/caselaws?id=276037 The Tribunal allowed the appeal by the corporate entity engaged in real estate, deleting the addition of Rs. 101.25 lakhs for unexplained investment in lands under u/s.69C of the Income Tax Act for AY 2009-10. The Tribunal relied on judicial precedents and emphasized the requirement of concrete evidence to support such additions, overturning the decision of the Ld. CIT(A) based on incriminating evidence seized during search operations. The Tribunal's ruling aligned with previous judgments, highlighting that additions cannot be solely based on entries in loose papers without substantial evidence. en-us Wed, 08 Nov 2017 00:00:00 +0530 Fri, 26 Oct 2018 06:01:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276037 The Tribunal allowed the appeal by the corporate entity engaged in real estate, deleting the addition of Rs. 101.25 lakhs for unexplained investment in lands under u/s.69C of the Income Tax Act for AY 2009-10. The Tribunal relied on judicial precedents and emphasized the requirement of concrete evidence to support such additions, overturning the decision of the Ld. CIT(A) based on incriminating evidence seized during search operations. The Tribunal's ruling aligned with previous judgments, highlighting that additions cannot be solely based on entries in loose papers without substantial evidence. Case-Laws Income Tax Wed, 08 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276037