https://www.taxtmi.com/caselaws?id=388927 The ITAT Chennai dismissed the appellant's appeal against the CIT(A) order for AY 2013-14, upholding the assessment of Rs. 4,32,355 as unexplained money. The appellant failed to provide evidence contradicting the seller's statement and supporting the Revenue's position. The assessment was completed based on the seller's statement and documentary evidence, with the ITAT emphasizing the importance of substantiating claims with evidence. The decision affirmed the addition of undisclosed income, highlighting the necessity of supporting transactions with evidence. en-us Tue, 22 Oct 2019 00:00:00 +0530 Wed, 27 Nov 2019 12:23:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388927 The ITAT Chennai dismissed the appellant's appeal against the CIT(A) order for AY 2013-14, upholding the assessment of Rs. 4,32,355 as unexplained money. The appellant failed to provide evidence contradicting the seller's statement and supporting the Revenue's position. The assessment was completed based on the seller's statement and documentary evidence, with the ITAT emphasizing the importance of substantiating claims with evidence. The decision affirmed the addition of undisclosed income, highlighting the necessity of supporting transactions with evidence. Case-Laws Income Tax Tue, 22 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388927