https://www.taxtmi.com/caselaws?id=280494 The Tribunal upheld the CIT(A)'s decision to delete the addition made under section 69B of the Income Tax Act, 1961, based on the lack of sufficient evidence provided by the Assessing Officer to prove that the actual investment exceeded the recorded amount in the books. The Tribunal emphasized that the provisions of section 50C regarding stamp duty rates cannot be used to make such additions and dismissed the Revenue's appeal. The judgment favored the assessee, and the appeal against the addition was ultimately dismissed on June 6, 2018. en-us Wed, 06 Jun 2018 00:00:00 +0530 Tue, 07 May 2019 23:07:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280494 The Tribunal upheld the CIT(A)'s decision to delete the addition made under section 69B of the Income Tax Act, 1961, based on the lack of sufficient evidence provided by the Assessing Officer to prove that the actual investment exceeded the recorded amount in the books. The Tribunal emphasized that the provisions of section 50C regarding stamp duty rates cannot be used to make such additions and dismissed the Revenue's appeal. The judgment favored the assessee, and the appeal against the addition was ultimately dismissed on June 6, 2018. Case-Laws Income Tax Wed, 06 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280494