https://www.taxtmi.com/caselaws?id=392985 The High Court of Gujarat dismissed the Revenue's appeal in a tax case involving unexplained income additions based on cash transactions for land purchases. The court upheld the decisions of the CIT(A) and the Appellate Tribunal, ruling that the Revenue failed to provide sufficient independent evidence to support the additions. The court emphasized the lack of corroborative evidence and the reliance on statements made before the Settlement Commission by third parties, stating that such statements alone were insufficient to establish transactions. The court concluded that the Revenue's case lacked substantial evidence, ultimately leading to the dismissal of the appeal. en-us Tue, 25 Feb 2020 00:00:00 +0530 Tue, 03 Mar 2020 13:32:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392985 The High Court of Gujarat dismissed the Revenue's appeal in a tax case involving unexplained income additions based on cash transactions for land purchases. The court upheld the decisions of the CIT(A) and the Appellate Tribunal, ruling that the Revenue failed to provide sufficient independent evidence to support the additions. The court emphasized the lack of corroborative evidence and the reliance on statements made before the Settlement Commission by third parties, stating that such statements alone were insufficient to establish transactions. The court concluded that the Revenue's case lacked substantial evidence, ultimately leading to the dismissal of the appeal. Case-Laws Income Tax Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392985