https://www.taxtmi.com/caselaws?id=385854 The Tribunal upheld the addition of Rs. 92,00,000/- as unexplained capital under Section 68, emphasizing the lack of corroborative evidence and inconsistency in the assessee's explanations regarding the source of deposits. Despite claiming the funds came from an advance land sale, the assessee failed to provide supporting documentation, leading to the dismissal of the appeal. The decision highlighted the legal principles requiring the assessee to establish the genuineness of transactions and the burden of proof in such cases. en-us Wed, 11 Sep 2019 00:00:00 +0530 Sun, 15 Sep 2019 09:40:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385854 The Tribunal upheld the addition of Rs. 92,00,000/- as unexplained capital under Section 68, emphasizing the lack of corroborative evidence and inconsistency in the assessee's explanations regarding the source of deposits. Despite claiming the funds came from an advance land sale, the assessee failed to provide supporting documentation, leading to the dismissal of the appeal. The decision highlighted the legal principles requiring the assessee to establish the genuineness of transactions and the burden of proof in such cases. Case-Laws Income Tax Wed, 11 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385854