https://www.taxtmi.com/caselaws?id=395782 The High Court overturned the Tribunal's decision to delete additions in Block Assessment based on unsubstantiated claims, emphasizing the lack of evidence connecting investments to the HUF and finance firms. The Court criticized the acceptance of affidavits without strict proof, highlighting the failure to adhere to evidence principles. Additionally, the Court stressed the importance of verifying returns under the Income-tax Act, contrary to the Tribunal's dismissal of its significance. The High Court allowed the Revenue's appeals, rejecting the assessees' claims due to lack of evidence and reliance on unsubstantiated affidavits, upholding the Assessing Authority and Commissioner of Income Tax (Appeals) findings. en-us Thu, 05 Mar 2020 00:00:00 +0530 Wed, 19 Aug 2020 13:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395782 The High Court overturned the Tribunal's decision to delete additions in Block Assessment based on unsubstantiated claims, emphasizing the lack of evidence connecting investments to the HUF and finance firms. The Court criticized the acceptance of affidavits without strict proof, highlighting the failure to adhere to evidence principles. Additionally, the Court stressed the importance of verifying returns under the Income-tax Act, contrary to the Tribunal's dismissal of its significance. The High Court allowed the Revenue's appeals, rejecting the assessees' claims due to lack of evidence and reliance on unsubstantiated affidavits, upholding the Assessing Authority and Commissioner of Income Tax (Appeals) findings. Case-Laws Income Tax Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395782