https://www.taxtmi.com/caselaws?id=392694 The Tribunal upheld the Commissioner of Income Tax (Appeals) Hissar's decision to add Rs. 74,95,000 under section 69 of the Income Tax Act, 1961. Despite the submission of additional evidence during the appellate proceedings, including bank statements and a cancellation agreement, the Tribunal found discrepancies and lack of buyer confirmations, deeming the documents fictitious. With the assessee failing to provide substantial proof to explain cash deposits and withdrawals, and lacking buyer identities and attendance, the Tribunal dismissed the appeal, affirming the CIT(A)'s order. en-us Mon, 30 Dec 2019 00:00:00 +0530 Wed, 26 Feb 2020 11:41:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392694 The Tribunal upheld the Commissioner of Income Tax (Appeals) Hissar's decision to add Rs. 74,95,000 under section 69 of the Income Tax Act, 1961. Despite the submission of additional evidence during the appellate proceedings, including bank statements and a cancellation agreement, the Tribunal found discrepancies and lack of buyer confirmations, deeming the documents fictitious. With the assessee failing to provide substantial proof to explain cash deposits and withdrawals, and lacking buyer identities and attendance, the Tribunal dismissed the appeal, affirming the CIT(A)'s order. Case-Laws Income Tax Mon, 30 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392694