Section 69 Addition Overturned: No Evidence of Unexplained Land Investment Found in Assessee's Name.

Section 69 Addition Overturned: No Evidence of Unexplained Land Investment Found in Assessee's Name. https://www.taxtmi.com/highlights?id=51230 Addition u/s 69 - unexplained investment made in purchase of land - no asset came into existence in the name of the assessee, which requires to be shown in the books of accounts. The ld.AO has simply assumed certain facts, and assumed existence of unexplained asset which requires to be added u/s 69 - Additions were rightly deleted. en-us Wed, 15 Jan 2020 06:15:10 +0530 Wed, 15 Jan 2020 06:15:10 +0530 TaxTMI RSS Generator Section 69 Addition Overturned: No Evidence of Unexplained Land Investment Found in Assessee's Name. https://www.taxtmi.com/highlights?id=51230 Addition u/s 69 - unexplained investment made in purchase of land - no asset came into existence in the name of the assessee, which requires to be shown in the books of accounts. The ld.AO has simply assumed certain facts, and assumed existence of unexplained asset which requires to be added u/s 69 - Additions were rightly deleted. Highlights Income Tax Wed, 15 Jan 2020 06:15:10 +0530 https://www.taxtmi.com/highlights?id=51230