https://www.taxtmi.com/caselaws?id=375101 The High Court upheld the decision of the lower authorities, dismissing the appeal challenging the addition of undisclosed investment under Section 69 of the Income Tax Act for Assessment Year 2007-08. The Court emphasized the insufficiency of evidence from loose papers to support the claim of cash payments made by the assessee for flat purchases. It was concluded that vague references on the document could not be interpreted as evidence of cash transactions without concrete proof, leading to the dismissal of the appeal due to the lack of substantial evidence supporting the addition. en-us Mon, 04 Feb 2019 00:00:00 +0530 Thu, 14 Feb 2019 06:21:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375101 The High Court upheld the decision of the lower authorities, dismissing the appeal challenging the addition of undisclosed investment under Section 69 of the Income Tax Act for Assessment Year 2007-08. The Court emphasized the insufficiency of evidence from loose papers to support the claim of cash payments made by the assessee for flat purchases. It was concluded that vague references on the document could not be interpreted as evidence of cash transactions without concrete proof, leading to the dismissal of the appeal due to the lack of substantial evidence supporting the addition. Case-Laws Income Tax Mon, 04 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375101