https://www.taxtmi.com/caselaws?id=376244 The court modified the addition on the assessee-appellant from Rs. 78 lakhs to Rs. 50 lakhs, based on the admitted payment of Rs. 50 lakhs in cash. The undisclosed amounts were not reflected in the cash flow statement, leading to the deemed unexplained investment. The court emphasized that the materialization of the agreement was irrelevant for considering the addition made by the Assessing Officer. The Income Tax Appeal was partly allowed with no order as to costs. en-us Thu, 21 Feb 2019 00:00:00 +0530 Tue, 05 Mar 2019 07:42:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376244 The court modified the addition on the assessee-appellant from Rs. 78 lakhs to Rs. 50 lakhs, based on the admitted payment of Rs. 50 lakhs in cash. The undisclosed amounts were not reflected in the cash flow statement, leading to the deemed unexplained investment. The court emphasized that the materialization of the agreement was irrelevant for considering the addition made by the Assessing Officer. The Income Tax Appeal was partly allowed with no order as to costs. Case-Laws Income Tax Thu, 21 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376244