https://www.taxtmi.com/caselaws?id=283900 The Tribunal ruled in favor of the assessee, deleting the addition of the unexplained cash amount paid for the purchase of an office/flat. The Tribunal found that the evidence presented, based on material found during a search on the Hiranandani group of cases, did not conclusively prove the alleged payment. Crucial details were lacking in the evidence, and the market value of the property supported the assessee's claim. Therefore, the Tribunal concluded that the material relied upon did not substantiate the allegations, leading to the deletion of the addition and allowing the appeal of the assessee. en-us Wed, 09 May 2018 00:00:00 +0530 Sun, 20 Oct 2019 15:05:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283900 The Tribunal ruled in favor of the assessee, deleting the addition of the unexplained cash amount paid for the purchase of an office/flat. The Tribunal found that the evidence presented, based on material found during a search on the Hiranandani group of cases, did not conclusively prove the alleged payment. Crucial details were lacking in the evidence, and the market value of the property supported the assessee's claim. Therefore, the Tribunal concluded that the material relied upon did not substantiate the allegations, leading to the deletion of the addition and allowing the appeal of the assessee. Case-Laws Income Tax Wed, 09 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283900