https://www.taxtmi.com/caselaws?id=381749 The Tribunal upheld the CIT(A)'s decision to dismiss the appeal, citing fundamental errors of law and miscarriage of justice. The notice u/s 148 of the I.T. Act was deemed valid, issued within the prescribed time limit and properly served. The source of investment in the property was considered unexplained due to lack of evidence, leading to the confirmation of additions in dispute. The application of section 50C of the I.T. Act for determining sale consideration was upheld, as the entire investment was deemed unexplained. The nexus between cash available with the husband and the investment made by the assessee was not established, resulting in the dismissal of the appeal. en-us Tue, 01 Jan 2019 00:00:00 +0530 Wed, 19 Jun 2019 06:47:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381749 The Tribunal upheld the CIT(A)'s decision to dismiss the appeal, citing fundamental errors of law and miscarriage of justice. The notice u/s 148 of the I.T. Act was deemed valid, issued within the prescribed time limit and properly served. The source of investment in the property was considered unexplained due to lack of evidence, leading to the confirmation of additions in dispute. The application of section 50C of the I.T. Act for determining sale consideration was upheld, as the entire investment was deemed unexplained. The nexus between cash available with the husband and the investment made by the assessee was not established, resulting in the dismissal of the appeal. Case-Laws Income Tax Tue, 01 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381749