https://www.taxtmi.com/caselaws?id=374747 The ITAT dismissed the Revenue's appeals and upheld the CIT(A)'s decision to delete additions concerning unaccounted investments in property. It emphasized the need for concrete evidence to support such additions and noted the absence of provisions in the Income Tax Act for adding undervaluation of property in the purchaser's hands. The ITAT concurred with the CIT(A) and ruled in favor of the assessee, highlighting the lack of evidence to justify the conclusion of unaccounted investments. en-us Wed, 06 Feb 2019 00:00:00 +0530 Thu, 07 Feb 2019 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374747 The ITAT dismissed the Revenue's appeals and upheld the CIT(A)'s decision to delete additions concerning unaccounted investments in property. It emphasized the need for concrete evidence to support such additions and noted the absence of provisions in the Income Tax Act for adding undervaluation of property in the purchaser's hands. The ITAT concurred with the CIT(A) and ruled in favor of the assessee, highlighting the lack of evidence to justify the conclusion of unaccounted investments. Case-Laws Income Tax Wed, 06 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374747