https://www.taxtmi.com/caselaws?id=278888 The Tribunal concluded that the Assessing Officer's addition to the assessee's income was unjustified as it lacked concrete evidence and was based on assumptions regarding the alleged receipt of 'on money.' The Tribunal emphasized the Revenue's burden to prove understatement of consideration and highlighted the need for substantial proof. Citing legal precedents, the Tribunal allowed the assessee's appeal, deleting the addition of Rs. 2,52,65,247. The decision favored the assessee, rejecting the addition made on hypothetical grounds and stressing the importance of concrete evidence in such matters. en-us Fri, 25 May 2018 00:00:00 +0530 Sun, 24 Feb 2019 14:02:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278888 The Tribunal concluded that the Assessing Officer's addition to the assessee's income was unjustified as it lacked concrete evidence and was based on assumptions regarding the alleged receipt of 'on money.' The Tribunal emphasized the Revenue's burden to prove understatement of consideration and highlighted the need for substantial proof. Citing legal precedents, the Tribunal allowed the assessee's appeal, deleting the addition of Rs. 2,52,65,247. The decision favored the assessee, rejecting the addition made on hypothetical grounds and stressing the importance of concrete evidence in such matters. Case-Laws Income Tax Fri, 25 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278888